Closing Cost Comparing

[Shane Brown]

Hi everyone, 

Currently in the process of trying to buy my first home. I am just curios if anyone has some idea of what bank, CU or mortgage company has the lowest closing cost fees. Currently looking at one that will run about 6,000. (loan price is 227,500)

Thanks!

[Anthony Micklus]

Hello Shane,

Welcome to the Bigger pockets site. I am a Realtor(R) in the Northwestern Vermont Area. There are many lenders out there but it is not always as easy as looking at just closing costs. You also want to make sure you look at other terms of the loans. Many banks will offer "no closing cost" mortgages (Community Bank here has a product like that.) but you might be paying for it in higher interest rates. In any case my advice would be to contact 3 local lenders. I recommend local because we have some really funky laws in Vermont (such as Act 60) that many of the national companies are not aware of. Ask them about their fees and do some comparisons. I have also found that credit unions tend to have better rates. Hope this Helps