What's Hot: The 5 Zip Codes in the Maryland Suburbs With the Highest Home Price Appreciation in 2024
New App Calculates Total Cash Outlay For Homebuyers
✉️ Want to forward this article? Click here.
The Close It! app.
An new app calculates the total amount of cash required when closing on a home, including closing costs, monthly mortgage payments and all other associated costs.
Close It! from local title company Federal Title will work on mobile devices — though it’s currently available only on the iPad — and creates a document that replicates what you would see on a HUD-1 on the day that a buyers closes on a new home.
According to Federal Title, the app takes into account 45 closing cost variables on the buyer’s side, like appraisal fees, title processing fees, and interest rates, and 22 variables on the seller’s side, like the first mortgage payoff amount, notary fee, and real estate commission, to come up with accurate numbers for both parties. Federal Title expects the estimated numbers to be within 0.1 percent of the actual, final numbers.
The app will work in DC, Maryland and Virginia, and buyers can start the estimation process when they first look at a home. The app will pinpoint the county and jurisdiction to determine the costs based on the regulations of that area. Line items can be edited manually as well.
See other articles related to: close it, closing costs, federal title
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/new_app_calculates_total_cash_outlay_for_homebuyers/7091.
Most Popular... This Week • Last 30 Days • Ever
Today, UrbanTurf takes a look at the office-to-residential conversions on the boards ... read »
Today, we take a closer look at home insurance.... read »
The new project is just the latest affordable development to move forward in DC.... read »
The beautiful four-story property, with three renovated units offering more than $200... read »
The nearly 12,000 square-foot McLean house of the former Washington Nationals pitcher... read »
- A Look At The 9 Office-To-Residential Conversions On The Boards in DC
- A Look at What is Covered By Home Insurance
- 11-Story, 46-Unit Development Pitched For A Pair Of Downtown DC Rowhouses
- Elegant Dupont Circle Rowhouse, Boasting Huge Rental Income Potential, Hits the Market
- Stephen Strasburg's McLean Home Sells For $8.55 Million
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro