What Are Closing Costs When Buying a Home In Phoenix, Arizona?

In addition to the down payment, you'll also have to pay closing costs -- miscellaneous fees charged by those involved with the home sale (such as your lender for processing the loan, the title company for handling the paperwork, a surveyor, local government offices for recording the deed, etc.). The amount varies, but could be, say, $6000 on a $130,000 house. The range is all over the map -- from 1 to 8% of the price of the home, though more typically 2-3%. These costs are significant -- especially after you've already had to come up with a lot of cash for the down payment.

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