In this solo episode of The Real Estate Lens, Ryan breaks down exactly what closing costs are, how they’re calculated, and why they vary from deal to deal. If you’re budgeting to buy in Massachusetts or Rhode Island and only planning for the down payment, this episode shows you what else to expect so there are no surprises on closing day.

Ryan walks through the two big buckets of costs: loan costs tied to your mortgage, and “other” costs like attorney, title, taxes, insurance, and escrows. He explains the typical 2 to 3 percent rule of thumb, why higher price points often land closer to 2 percent, and which line items are fixed versus variable. You’ll also learn how program choice, property type, state customs, and options like rate buydowns or flood insurance can shift your final number.

What you’ll learn:

• The full breakdown of closing costs beyond your down payment
• Which fees are lender related vs. third party vs. prepaid bills and escrows
• Why closing costs often run 2 to 3 percent and how price point changes that
• How attorney, title insurance, transfer taxes, and state customs impact totals
• Variables that move your number, from insurance and taxes to rate buydowns and flood zones

If you want a clear, line-by-line understanding of what you’ll owe at closing and how to plan for it, this episode gives you the exact framework and questions to bring to your lender.

Interested in connecting?

HOST
Ryan Richards | Branch Manager, Northpoint Mortgage | NMLS 1987735
[email protected] | www.financewithteamrichards.com
204 Turnpike Rd, Westborough, MA 01581
Licensed in MA, CT, FL, NC, NH, PA, RI
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