Buying a house is a huge financial decision, and closing day is the culmination of all your hard work. But what if you close on the wrong day? It could end up costing you thousands of dollars.
According to a study by ClosingCorp, the worst day to close on a house is Friday. On average, closing costs are 2.5% higher on Fridays than on other days of the week. That's because lenders and title companies are often short-staffed on Fridays, and they may charge extra fees to get your loan closed before the weekend.
Day of the Week | Average Closing Costs |
---|---|
Monday | $2,500 |
Tuesday | $2,500 |
Wednesday | $2,500 |
Thursday | $2,500 |
Friday | $2,625 |
In addition to the higher closing costs, you may also have to pay extra for a rush fee if you need to close on Friday. Rush fees can range from $250 to $1,000 or more.
So, if you're planning to buy a house, avoid closing on Friday if possible. Try to schedule your closing for Monday, Tuesday, Wednesday, or Thursday instead. You'll save money on closing costs and avoid the stress of a last-minute rush.
What is the best day to close on a house?
The best day to close on a house is Monday, Tuesday, Wednesday, or Thursday.
What are the worst days to close on a house?
The worst days to close on a house are Friday and Saturday.
How much can I save by closing on a weekday instead of a weekend?
You can save up to 2.5% on closing costs by closing on a weekday instead of a weekend.
What is a rush fee?
A rush fee is a fee that lenders and title companies may charge to close a loan before the weekend.
How can I avoid paying a rush fee?
You can avoid paying a rush fee by scheduling your closing for Monday, Tuesday, Wednesday, or Thursday.
If you're planning to buy a house, don't make the mistake of closing on the wrong day. Contact a real estate agent or lender today to schedule your closing for a weekday. You'll save money and avoid the stress of a last-minute rush.
2024-11-17 01:53:44 UTC
2024-11-18 01:53:44 UTC
2024-11-19 01:53:51 UTC
2024-08-01 02:38:21 UTC
2024-07-18 07:41:36 UTC
2024-12-23 02:02:18 UTC
2024-11-16 01:53:42 UTC
2024-12-22 02:02:12 UTC
2024-12-20 02:02:07 UTC
2024-11-20 01:53:51 UTC
2024-12-31 05:38:14 UTC
2024-12-30 13:42:41 UTC
2024-08-09 03:12:53 UTC
2024-08-09 03:13:09 UTC
2024-08-09 03:13:16 UTC
2024-08-09 03:13:32 UTC
2024-08-09 03:13:41 UTC
2024-08-09 03:13:51 UTC
2025-01-06 06:15:39 UTC
2025-01-06 06:15:38 UTC
2025-01-06 06:15:38 UTC
2025-01-06 06:15:38 UTC
2025-01-06 06:15:37 UTC
2025-01-06 06:15:37 UTC
2025-01-06 06:15:33 UTC
2025-01-06 06:15:33 UTC