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Article: Home buyers in Bakersfield, Calif., area must consider the extra costs.
- Article from:
- The Bakersfield Californian (Bakersfield, CA)
- Article date:
- September 5, 2004
CopyrightCOPYRIGHT 2004 The Bakersfield Californian. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jennifer Plotnick
Sep. 5--Buying a home isn't simply scraping together enough money to pay the cost of the home itself -- there are extras to consider. Based on the specifics of your loan, you may pay closing costs as part of the loan, as a higher percentage interest rate or with extra cash.
In general, home buyers can expect to pay about 5 percent of the home's price in closing costs, said Beth Cheatwood, branch manager of MortgageTree Lending.
In July, the median price of a home in the Central Valley was $283,650, according to the California Association of Realtors. With the 5 percent as a guide, a buyer purchasing a home at that ...
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