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Homebuying 101–Part 9: Closing Costs

How to Shop for Your Loan What is an Escrow, Anyway?

For many first time home buyers, finding out that they’ll have to come up with closing costs along with their down payment can come as a rude surprise. For mortgages requiring a low down payment, like FHA, VA and 97% conventional loans, the closing costs can be more than the down payment. This movie explores what closing costs are, and suggests some strategies for handling them when you’re short on cash.

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