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5 things to know: 8-06-12

By Kim Fulscher · Bankrate.com
Monday, August 6, 2012
Posted: 10 am ET

Your monthly house expenses don't end at the mortgage  bill -- homeowners insurance and taxes will run up the total. And those house expenses begin at closing time. Enter closing costs. Here are five things to know about mortgages and closing costs today.

1. You need a table that compares closing cost averages by state? It's like Bankrate read your mind.

2. Trust us, the mortgage paperwork will be good and plenty. Here's the missing guide to the GFE and HUD-1 (LOL?).

3. Do you know what type of mortgage you even need? Here's what to look for in a piggyback mortgage.

4. Fannie and Freddie are sticking to their guns, but that doesn't bode well for underwater homeowners.

5. So you own your house but added some unpermitted work over the years? Yep, that might also add to your home expenses in the form of a fine and permit fee.

Related posts:

  1. Ways to doom your mortgage closing
  2. Too young for reverse mortgage?
  3. Advice for refinancing at these low rates
  4. Empire $tate tops list
  5. What Sandy does to your closing
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