Posted by Michael on January 09, 2003 at 10:23:46:
Hello. The best two options in my opinion would be as already stated by the messages before this one. Either pay more than the true asking price of the home and ask the seller to pay some closing, or find a mortgage broker or lender to do a higher rate mortgage to eat the closing costs.
HELP!!!How can i eliminate closing cost? - Posted by Tommy
Posted by Tommy on January 08, 2003 at 21:02:24:
I AM IN THE PROCESS OF BUYING A CONDO TO FLIP I’M LOW ON CASH HOW CAN I ELIMINATE MOST OF THE CLOSING COST? THANKS
Re: HELP!!!How can i eliminate closing cost? - Posted by Charles Clark
Posted by Charles Clark on January 09, 2003 at 08:40:38:
HI Tommy,
You also should consider paying a little more for the property and then the seller will be motivated to pay all of the non-recurring costs as part of the deal.
You will still have to pay the escrow and pre-paid interest portions.
Charles Clark
Re: HELP!!!How can i eliminate closing cost? - Posted by William Earl
Posted by William Earl on January 08, 2003 at 23:09:01:
A lot of brokers will give you a “no closing cost” loan if you will take their rate. All they do is blend the closing costs to get the loan. Brokers like to do this with FHA because it pays higher, but a motivated broker might do it for you on a conventional note.