How much can you expect to pay for closing cost?

[Mike Harris]

I understand that closing costs vary from property to property but I was wondering if anyone had tips to see how to get a rough estimate. I was told they can cost up to 10k and if that is true that will change the amount I can put down on a property. Is there some type of formula to guesstimate? like maybe a percentage of the property cost? Thank you.

[Elise Marquette]

I typically tell clients to estimate 2-3% of the loan amount. That'll increase if you do a rate buydown