Closing costs confuse most buyers and cost people thousands of dollars simply because they do not understand them.

In this episode of the SEI Mortgage Podcast, Ryan Marks does a live screen share and walks through a Closing Disclosure to explain exactly what closing costs are when buying a home, where the numbers come from, and which fees matter most for buyers, self employed borrowers, and real estate investors.

This episode breaks down lender fees, title and escrow charges, prepaid items, taxes, insurance, and reserves so you can clearly see how your total cash to close is calculated. We also explain how closing costs differ when buying a primary home versus a rental property, and how self employed buyers using Non QM loan programs should review these figures before signing.

If you are buying a home, purchasing a rental property, or simply want to understand your mortgage paperwork before closing day, this episode gives you a clear, no nonsense explanation using real numbers and a real example.

In This Episode:

• What closing costs are when buying a home
 • How to read and understand a Closing Disclosure
 • Lender fees versus third party fees
 • Prepaid taxes, insurance, and escrow accounts explained
 • Closing costs for self employed borrowers
 • Differences between primary residence and rental property closings
 • How to avoid surprises at the closing table

Tools and Next Steps

For tools, resources, and help reviewing your loan figures, visit www.seimortgage.com.
If you are buying a home or investing in real estate and want guidance, get in touch with us to review your scenario and options.