{"id":3372,"date":"2023-02-07T07:00:00","date_gmt":"2023-02-07T12:00:00","guid":{"rendered":"https:\/\/www.khov.com\/blog\/?p=3372"},"modified":"2024-05-30T18:41:17","modified_gmt":"2024-05-30T18:41:17","slug":"reduced-closing-costs-move-you-into-your-new-home-faster","status":"publish","type":"post","link":"https:\/\/blog.khov.com\/blog\/reduced-closing-costs-move-you-into-your-new-home-faster\/","title":{"rendered":"Reduced Closing Costs Can Move You into Your New Home Faster"},"content":{"rendered":"\n<p>Buying a brand new home is an exciting milestone in someone\u2019s life, but there are often costs involved beyond just &#8220;buying&#8221; the home that often get forgotten, and for many buyers, these costs can be surprising and coming up with the money to pay these initial upfront cost can be stressful.&nbsp;<\/p>\n\n\n<style>.kb-row-layout-id3372_f6782b-54 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id3372_f6782b-54 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id3372_f6782b-54 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:0px;padding-bottom:0px;grid-template-columns:minmax(0, calc(40.2% - ((var(--global-kb-gap-md, 2rem) * 1 )\/2)))minmax(0, calc(59.8% - ((var(--global-kb-gap-md, 2rem) * 1 )\/2)));}.kb-row-layout-id3372_f6782b-54 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id3372_f6782b-54 > .kt-row-column-wrap{grid-template-columns:repeat(2, minmax(0, 1fr));}}@media all and (max-width: 767px){.kb-row-layout-id3372_f6782b-54 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id3372_f6782b-54 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-2-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column3372_71b22c-4c > .kt-inside-inner-col{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.kadence-column3372_71b22c-4c > .kt-inside-inner-col,.kadence-column3372_71b22c-4c > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_71b22c-4c > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3372_71b22c-4c > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_71b22c-4c > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_71b22c-4c > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_71b22c-4c{position:relative;}.kadence-column3372_71b22c-4c, .kt-inside-inner-col > .kadence-column3372_71b22c-4c:not(.specificity){margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;}@media all and (max-width: 1024px){.kadence-column3372_71b22c-4c > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_71b22c-4c > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_71b22c-4c inner-column-1\"><div class=\"kt-inside-inner-col\"><div class=\"wp-block-ub-table-of-contents-block ub_table-of-contents\" id=\"ub_table-of-contents-63544a51-805f-4bd5-b198-4d3a20af767a\" data-linktodivider=\"false\" data-showtext=\"show\" data-hidetext=\"hide\" data-scrolltype=\"auto\" data-enablesmoothscroll=\"false\" data-initiallyhideonmobile=\"false\" data-initiallyshow=\"true\"><div class=\"ub_table-of-contents-header-container\" style=\"\">\n\t\t\t<div class=\"ub_table-of-contents-header\" style=\"text-align: left; \">\n\t\t\t\t<div class=\"ub_table-of-contents-title\"><\/div>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t<\/div><div class=\"ub_table-of-contents-extra-container\" style=\"\">\n\t\t\t<div class=\"ub_table-of-contents-container ub_table-of-contents-1-column \">\n\t\t\t\t<ol style=\"\"><li style=\"\"><a href=\"https:\/\/blog.khov.com\/blog\/reduced-closing-costs-move-you-into-your-new-home-faster\/#0-when-saving-for-a-down-payment-you-have-to-save-for-closing-costs-too-\" style=\"\">When Saving for a Down Payment, You Have to Save for Closing Costs Too<\/a><\/li><li style=\"\"><a href=\"https:\/\/blog.khov.com\/blog\/reduced-closing-costs-move-you-into-your-new-home-faster\/#7-do-buyers-always-pay-closing-costs-\" style=\"\">Do Buyers Always Pay Closing Costs?<\/a><\/li><li style=\"\"><a href=\"https:\/\/blog.khov.com\/blog\/reduced-closing-costs-move-you-into-your-new-home-faster\/#11-reducing-closing-costs-when-building-or-buying-a-new-home-\" style=\"\">Reducing Closing Costs When Building or Buying a New Home<\/a><\/li><li style=\"\"><a href=\"https:\/\/blog.khov.com\/blog\/reduced-closing-costs-move-you-into-your-new-home-faster\/#13-alternativeadditional-ways-to-reduce-your-closing-costs-on-a-home-\" style=\"\">Alternative\/Additional Ways to Reduce Your Closing Costs on a Home<\/a><\/li><li style=\"\"><a href=\"https:\/\/blog.khov.com\/blog\/reduced-closing-costs-move-you-into-your-new-home-faster\/#14-how-k-hovnanian-homes-helps-home-buyers-reduce-closing-costs-amp-move-into-their-new-home-faster-\" style=\"\">How K. Hovnanian Homes Helps Home Buyers Reduce Closing Costs &amp; Move into Their New Home Faster<\/a><\/li><\/ol>\n\t\t\t<\/div>\n\t\t<\/div><\/div><\/div><\/div>\n\n\n<style>.kadence-column3372_9fa32c-45 > .kt-inside-inner-col,.kadence-column3372_9fa32c-45 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_9fa32c-45 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3372_9fa32c-45 > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_9fa32c-45 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_9fa32c-45 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_9fa32c-45{position:relative;}@media all and (max-width: 1024px){.kadence-column3372_9fa32c-45 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_9fa32c-45 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_9fa32c-45 inner-column-2\"><div class=\"kt-inside-inner-col\">\n<p>As national home builders, <a href=\"https:\/\/www.khov.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">K.Hovnanian\u00ae Homes<\/a> is well acquainted with the difficulty closing costs can create when buying a new home &#8211; and that&#8217;s exactly why we often offer different solutions, options, and incentives for buyers to reduce their closing costs. <\/p>\n\n\n\n<p>Reducing closing costs doesn&#8217;t just save you money, it can save you time as well, allowing you to start moving, living, and enjoying your new home sooner.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"0-when-saving-for-a-down-payment-you-have-to-save-for-closing-costs-too-\"><strong>When Saving for a Down Payment, You Have to Save for Closing Costs Too<\/strong><\/h2>\n\n\n\n<p>Closing costs are no small sum, often ranging in the thousands &#8211; so it\u2019s absolutely crucial, especially if you&#8217;re a first time home buyer, to understand the upfront costs of purchasing a home so that you are financially prepared at the time of closing. <\/p>\n<\/div><\/div>\n\n<\/div><\/div>\n\n\n<p>So whether it is a <a href=\"https:\/\/www.khov.com\/blog\/new-home-construction-process\/\" target=\"_blank\" rel=\"noreferrer noopener\">new construction home<\/a>, previously owned, or to-be-built &#8211; in order to prepare for the big day and because these costs are upfront, you want to start saving as soon as possible for your closing costs, earnest money, down payment, property taxes and insurance.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"1-what-are-closing-costs-what-do-they-cover-\"><strong>What are Closing Costs? What Do They Cover?<\/strong><\/h3>\n\n\n\n<p><a href=\"https:\/\/www.khov.com\/blog\/what-are-closing-costs\/\">Closing costs<\/a> are the extra costs associated with buying a home that cover administrative services such as mortgage application, underwriting fees, home inspection, home appraisal, title search, insurance, taxes, and attorney fees that are incurred when purchasing a new home.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"2-how-much-are-closing-costs-\"><strong>How Much are Closing Costs?<\/strong><\/h3>\n\n\n\n<p>Generally speaking, closing costs equate to 2-5% of the home loan amount, but can vary depending on location, price of the home, and whether you are refinancing or purchasing. <\/p>\n\n\n<style>.kadence-column3372_1570e0-a0 > .kt-inside-inner-col{box-shadow:0px 0px 25px 0px #e5e5e5;}.kadence-column3372_1570e0-a0 > .kt-inside-inner-col,.kadence-column3372_1570e0-a0 > 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class=\"kt-inside-inner-col\"><style>.kb-row-layout-wrap.wp-block-kadence-rowlayout.kb-row-layout-id3372_38e5ef-2a{margin-top:0px;margin-bottom:0px;}.kb-row-layout-id3372_38e5ef-2a > .kt-row-column-wrap{align-content:center;}:where(.kb-row-layout-id3372_38e5ef-2a > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:center;}.kb-row-layout-id3372_38e5ef-2a > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:1140px;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;grid-template-columns:minmax(0, calc(10% - ((var(--global-kb-gap-md, 2rem) * 1 )\/2)))minmax(0, calc(90% - ((var(--global-kb-gap-md, 2rem) * 1 )\/2)));}.kb-row-layout-id3372_38e5ef-2a{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;overflow:clip;isolation:isolate;}.kb-row-layout-id3372_38e5ef-2a > 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.wp-block-kadence-column.kadence-column3372_6848f9-53{align-self:auto;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_6848f9-53 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}.kadence-column3372_6848f9-53 > .kt-inside-inner-col{background-color:#f7fafc;}.kadence-column3372_6848f9-53 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_6848f9-53{text-align:left;}.kadence-column3372_6848f9-53{position:relative;}.kadence-column3372_6848f9-53, .kt-inside-inner-col > .kadence-column3372_6848f9-53:not(.specificity){margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;}@media all and (max-width: 1024px){.kt-row-column-wrap > .kadence-column3372_6848f9-53{align-self:center;}}@media all and (max-width: 1024px){.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_6848f9-53{align-self:auto;}}@media all and (max-width: 1024px){.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_6848f9-53 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 1024px){.kadence-column3372_6848f9-53 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kt-row-column-wrap > .kadence-column3372_6848f9-53{align-self:center;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_6848f9-53{align-self:auto;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_6848f9-53 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}.kadence-column3372_6848f9-53 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}.kadence-column3372_6848f9-53 {overflow:hidden;}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_6848f9-53 kb-section-dir-vertical inner-column-2\"><div class=\"kt-inside-inner-col\">\n<p>Closing costs can quickly rise, for example, if your home loan is $300,000, and you&#8217;re closing cost is 5%, that&#8217;s $15,000 more you have to pay upfront in addition to your down payment. Reducing these costs can make a huge difference in your ability to buy a home.<\/p>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-other-upfront-closing-costs-\"><strong>Other Upfront Closing Costs<\/strong><\/h3>\n\n\n<style>.kadence-column3372_449a69-b1 > .kt-inside-inner-col{padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kadence-column3372_449a69-b1 > .kt-inside-inner-col{box-shadow:0px 0px 25px 0px rgba(0, 0, 0, 0.2);border-left:10px solid #7ab4ba;}.kadence-column3372_449a69-b1 > .kt-inside-inner-col,.kadence-column3372_449a69-b1 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_449a69-b1 > .kt-inside-inner-col{column-gap:0px;}.kadence-column3372_449a69-b1 > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_449a69-b1 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_449a69-b1 > .kt-inside-inner-col{background-color:var(--global-palette8, #F7FAFC);}.kadence-column3372_449a69-b1 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_449a69-b1{text-align:left;}.kadence-column3372_449a69-b1{position:relative;}.kadence-column3372_449a69-b1, .kt-inside-inner-col > .kadence-column3372_449a69-b1:not(.specificity){margin-top:0px;margin-right:0px;margin-bottom:0px;}@media all and (max-width: 1024px){.kadence-column3372_449a69-b1 > .kt-inside-inner-col{border-left:10px solid #7ab4ba;flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_449a69-b1 > .kt-inside-inner-col{border-left:10px solid #7ab4ba;flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_449a69-b1 kb-section-dir-vertical inner-column-1\"><div class=\"kt-inside-inner-col\"><style>.kb-row-layout-id3372_d5c9f9-0b > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id3372_d5c9f9-0b > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id3372_d5c9f9-0b > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:0px;padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id3372_d5c9f9-0b > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id3372_d5c9f9-0b > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id3372_d5c9f9-0b > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id3372_d5c9f9-0b alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column3372_a11a6a-c1 > .kt-inside-inner-col,.kadence-column3372_a11a6a-c1 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_a11a6a-c1 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3372_a11a6a-c1 > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_a11a6a-c1 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_a11a6a-c1 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_a11a6a-c1{position:relative;}@media all and (max-width: 1024px){.kadence-column3372_a11a6a-c1 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_a11a6a-c1 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_a11a6a-c1 inner-column-1\"><div class=\"kt-inside-inner-col\">\n<h4 class=\"wp-block-heading has-text-color has-medium-font-size\" id=\"4-earnest-money-\" style=\"color:#7ab4ba;text-transform:uppercase\"><strong>Earnest Money:<\/strong><\/h4>\n\n\n\n<p>Earnest money, also referred to as a \u201cgood faith deposit,\u201d is a required initial deposit when purchasing a new home.\u00a0 The amount of the earnest deposit varies.\u00a0The earnest money deposit accompanies the signing of a purchase agreement, and that deposit is credited towards your total down payment\u2014 or if paying cash, to the total amount due at closing.<\/p>\n\n\n\n<p><\/p>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n\n<p><\/p>\n\n\n<style>.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col{padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col{box-shadow:0px 0px 25px 0px rgba(0, 0, 0, 0.2);border-left:10px solid #7ab4ba;}.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col,.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col{column-gap:0px;}.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col{background-color:var(--global-palette8, #F7FAFC);}.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_9a8d99-a5{text-align:left;}.kadence-column3372_9a8d99-a5{position:relative;}.kadence-column3372_9a8d99-a5, .kt-inside-inner-col > .kadence-column3372_9a8d99-a5:not(.specificity){margin-top:0px;margin-right:0px;margin-bottom:0px;}@media all and (max-width: 1024px){.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col{border-left:10px solid #7ab4ba;flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_9a8d99-a5 > .kt-inside-inner-col{border-left:10px solid #7ab4ba;flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_9a8d99-a5 kb-section-dir-vertical inner-column-1\"><div class=\"kt-inside-inner-col\"><style>.kb-row-layout-id3372_062058-28 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id3372_062058-28 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id3372_062058-28 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:0px;padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id3372_062058-28 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id3372_062058-28 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id3372_062058-28 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id3372_062058-28 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column3372_530fa5-f6 > .kt-inside-inner-col,.kadence-column3372_530fa5-f6 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_530fa5-f6 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3372_530fa5-f6 > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_530fa5-f6 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_530fa5-f6 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_530fa5-f6{position:relative;}@media all and (max-width: 1024px){.kadence-column3372_530fa5-f6 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_530fa5-f6 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_530fa5-f6 inner-column-1\"><div class=\"kt-inside-inner-col\">\n<h4 class=\"wp-block-heading has-text-color has-medium-font-size\" id=\"5-down-payment-\" style=\"color:#7ab4ba;text-transform:uppercase\"><strong>Down payment<\/strong><\/h4>\n\n\n\n<p>In addition to the earnest money, buyers also need to consider how much of a down payment they will assume. This can vary, however the national average is 6-12% of the sale price. <\/p>\n\n\n\n<p>Buyers should understand that putting less than 20% down will also incur a <a href=\"https:\/\/www.khov.com\/blog\/private-mortgage-insurance-what-it-is-and-when-you-need-it\/\" target=\"_blank\" rel=\"noreferrer noopener\">Private Mortgage Insurance<\/a> or PMI which will be added to your monthly payment until you have 22% equity in the home. <\/p>\n\n\n\n<p>First time homeowners can take advantage of special financing options that require less of a down payment, making homeownership possible.<\/p>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n\n<p><\/p>\n\n\n<style>.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col{padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col{box-shadow:0px 0px 25px 0px rgba(0, 0, 0, 0.2);border-left:10px solid #7ab4ba;}.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col,.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col{column-gap:0px;}.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col{background-color:var(--global-palette8, #F7FAFC);}.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_3efd9a-b0{text-align:left;}.kadence-column3372_3efd9a-b0{position:relative;}.kadence-column3372_3efd9a-b0, .kt-inside-inner-col > .kadence-column3372_3efd9a-b0:not(.specificity){margin-top:0px;margin-right:0px;margin-bottom:0px;}@media all and (max-width: 1024px){.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col{border-left:10px solid #7ab4ba;flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_3efd9a-b0 > .kt-inside-inner-col{border-left:10px solid #7ab4ba;flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_3efd9a-b0 kb-section-dir-vertical inner-column-1\"><div class=\"kt-inside-inner-col\"><style>.kb-row-layout-id3372_317819-20 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id3372_317819-20 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id3372_317819-20 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:0px;padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id3372_317819-20 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id3372_317819-20 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id3372_317819-20 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id3372_317819-20 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column3372_e0ac0e-ed > .kt-inside-inner-col,.kadence-column3372_e0ac0e-ed > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_e0ac0e-ed > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3372_e0ac0e-ed > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_e0ac0e-ed > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_e0ac0e-ed > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_e0ac0e-ed{position:relative;}@media all and (max-width: 1024px){.kadence-column3372_e0ac0e-ed > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_e0ac0e-ed > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_e0ac0e-ed inner-column-1\"><div class=\"kt-inside-inner-col\">\n<h4 class=\"wp-block-heading has-text-color has-medium-font-size\" id=\"6-taxes-and-insurance-\" style=\"color:#7ab4ba;text-transform:uppercase\"><strong><strong>Taxes and Insurance:<\/strong><\/strong><\/h4>\n\n\n\n<p>At closing, buyers must prepay 6 months worth of property taxes plus their annual premium for homeowner\u2019s insurance. According to Business Insider the <a href=\"https:\/\/www.businessinsider.com\/personal-finance\/average-property-taxes-every-us-state#:~:text=The%20average%20American%20pays%20%242%2C471,rate%20and%20median%20home%20values.\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">average American pays $2,471 of property taxes<\/a> each year. <\/p>\n\n\n\n<p>Taxes vary widely based on the state&#8217;s tax rate and median home values. <\/p>\n\n\n\n<p>Also, buyers may save and qualify for certain property tax exemptions such as Senior Tax Exemption, Veteran Tax Exemption, Disability Tax Exemption, and Homeowner\u2019s Tax Exemption.<\/p>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>To have a better understanding, here is an example of the overall upfront costs when purchasing a $300,000 home.<\/p>\n\n\n\n<figure class=\"wp-block-table box-shadow: 10px is-style-regular\"><table><tbody><tr><td><strong>HOME PRICE<\/strong><\/td><td><strong>$300,000<\/strong><\/td><td><\/td><\/tr><tr><td><strong>UPFRONT COSTS<\/strong><\/td><td><strong>LOW ESTIMATE<\/strong><\/td><td><strong>HIGH ESTIMATE<\/strong><\/td><\/tr><tr><td>Earnest Money (1-5%)<\/td><td>$3,000<\/td><td>$15,000<\/td><\/tr><tr><td>Down Payment (6-20%)<\/td><td>$9,000<\/td><td>$60,000<\/td><\/tr><tr><td>Closing Costs (2-5%)<\/td><td>$6,000<\/td><td>$15,000<\/td><\/tr><tr><td>Prepaid Taxes + Insurance<\/td><td>$2,500<\/td><td>$2,500<\/td><\/tr><tr><td><strong>Total Estimated Upfront Costs<\/strong><\/td><td><strong>$15,000<\/strong><\/td><td><strong>$92,500<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"7-do-buyers-always-pay-closing-costs-\"><strong>Do Buyers Always Pay Closing Costs?<\/strong><\/h2>\n\n\n\n<p>The short answer is no, not always. Some closing costs can be negotiated with the seller, or oftentimes with <a href=\"https:\/\/www.khov.com\/blog\/7-benefits-of-buying-a-new-construction-home-vs-existing-home\/\">new construction homes<\/a>, the home builder will offer buyer incentives towards closing costs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"8-who-pays-closing-costs-\"><strong>Who Pays Closing Costs?<\/strong><\/h3>\n\n\n\n<p>Both the buyer and seller pay for closing costs, but typically, the buyer pays more.<\/p>\n\n\n<style>.kadence-column3372_86f7c8-8d > .kt-inside-inner-col{padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kadence-column3372_86f7c8-8d > .kt-inside-inner-col{box-shadow:0px 0px 25px 0px rgba(0, 0, 0, 0.2);border-left:10px solid #7ab4ba;}.kadence-column3372_86f7c8-8d > .kt-inside-inner-col,.kadence-column3372_86f7c8-8d > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_86f7c8-8d > .kt-inside-inner-col{column-gap:0px;}.kadence-column3372_86f7c8-8d > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_86f7c8-8d > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_86f7c8-8d > .kt-inside-inner-col{background-color:var(--global-palette8, #F7FAFC);}.kadence-column3372_86f7c8-8d > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_86f7c8-8d{text-align:left;}.kadence-column3372_86f7c8-8d{position:relative;}.kadence-column3372_86f7c8-8d, .kt-inside-inner-col > .kadence-column3372_86f7c8-8d:not(.specificity){margin-top:0px;margin-right:0px;margin-bottom:0px;}@media all and (max-width: 1024px){.kadence-column3372_86f7c8-8d > .kt-inside-inner-col{border-left:10px solid #7ab4ba;flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_86f7c8-8d > .kt-inside-inner-col{border-left:10px solid #7ab4ba;flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_86f7c8-8d kb-section-dir-vertical inner-column-1\"><div class=\"kt-inside-inner-col\"><style>.kb-row-layout-id3372_a7abcf-34 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id3372_a7abcf-34 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id3372_a7abcf-34 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:0px;padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id3372_a7abcf-34 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id3372_a7abcf-34 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id3372_a7abcf-34 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id3372_a7abcf-34 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column3372_1dd972-fc > .kt-inside-inner-col,.kadence-column3372_1dd972-fc > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_1dd972-fc > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3372_1dd972-fc > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_1dd972-fc > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_1dd972-fc > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_1dd972-fc{position:relative;}@media all and (max-width: 1024px){.kadence-column3372_1dd972-fc > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_1dd972-fc > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_1dd972-fc inner-column-1\"><div class=\"kt-inside-inner-col\">\n<h4 class=\"wp-block-heading has-text-color has-medium-font-size\" id=\"9-closing-costs-covered-by-buyers-\" style=\"color:#7ab4ba;text-transform:uppercase\"><strong><strong>Closing Costs Covered by Buyers<\/strong><\/strong>:<\/h4>\n\n\n\n<p>A home buyer is likely to pay between 2% and 5% of their loan amount in closing costs which covers:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>mortgage application<\/li>\n\n\n\n<li>title search<\/li>\n\n\n\n<li>taxes<\/li>\n\n\n\n<li>attorney fees<\/li>\n\n\n\n<li>insurance<\/li>\n\n\n\n<li>underwriting fees<\/li>\n\n\n\n<li>home appraisal<\/li>\n\n\n\n<li>home inspection<\/li>\n<\/ul>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n\n<p><\/p>\n\n\n<style>.kadence-column3372_6418a6-ba > .kt-inside-inner-col{padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kadence-column3372_6418a6-ba > .kt-inside-inner-col{box-shadow:0px 0px 25px 0px rgba(0, 0, 0, 0.2);border-left:10px solid #7ab4ba;}.kadence-column3372_6418a6-ba > .kt-inside-inner-col,.kadence-column3372_6418a6-ba > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_6418a6-ba > .kt-inside-inner-col{column-gap:0px;}.kadence-column3372_6418a6-ba > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_6418a6-ba > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_6418a6-ba > .kt-inside-inner-col{background-color:var(--global-palette8, #F7FAFC);}.kadence-column3372_6418a6-ba > 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> .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:0px;padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id3372_c6ba17-ef > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id3372_c6ba17-ef > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id3372_c6ba17-ef > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id3372_c6ba17-ef alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column3372_f03f7f-fb > .kt-inside-inner-col,.kadence-column3372_f03f7f-fb > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_f03f7f-fb > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3372_f03f7f-fb > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_f03f7f-fb > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_f03f7f-fb > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_f03f7f-fb{position:relative;}@media all and (max-width: 1024px){.kadence-column3372_f03f7f-fb > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_f03f7f-fb > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_f03f7f-fb inner-column-1\"><div class=\"kt-inside-inner-col\">\n<h4 class=\"wp-block-heading has-text-color has-medium-font-size\" id=\"10-closing-costs-covered-by-sellers-\" style=\"color:#7ab4ba;text-transform:uppercase\"><strong><strong><strong>Closing Costs Covered by Sellers<\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p>The seller could pay 5% to 6% of the sale price which covers:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>real estate commissions<\/li>\n\n\n\n<li>title insurance<\/li>\n\n\n\n<li>taxes &amp; fees<\/li>\n\n\n\n<li>any other seller concessions<\/li>\n<\/ul>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"11-reducing-closing-costs-when-building-or-buying-a-new-home-\"><strong>Reducing Closing Costs When Building or Buying a New Home<\/strong><\/h2>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"655\" src=\"\/blog\/wp-content\/uploads\/2022\/09\/61790_Family-Buying-Home-1024x655.jpg\" alt=\"Family Buying a New Construction Home\" class=\"wp-image-2882\" srcset=\"\/blog\/wp-content\/uploads\/2022\/09\/61790_Family-Buying-Home-1024x655.jpg 1024w, \/blog\/wp-content\/uploads\/2022\/09\/61790_Family-Buying-Home-300x192.jpg 300w, \/blog\/wp-content\/uploads\/2022\/09\/61790_Family-Buying-Home-768x492.jpg 768w, \/blog\/wp-content\/uploads\/2022\/09\/61790_Family-Buying-Home-1536x983.jpg 1536w, \/blog\/wp-content\/uploads\/2022\/09\/61790_Family-Buying-Home-409x262.jpg 409w, \/blog\/wp-content\/uploads\/2022\/09\/61790_Family-Buying-Home-1600x1024.jpg 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>To alleviate the strain of upfront closing costs, there may be ways to save on closing costs when buying a new home. You have options, shop around for your mortgage lender!&nbsp; <\/p>\n\n\n\n<p>Just like pricing varies from one store to the next, so do closing costs and fees from lender to lender. The heart of your closing costs savings can be found on the loan estimate within the section labeled \u201cServices You Can Shop For.\u201d <\/p>\n\n\n\n<p>A variety of fees and services can be negotiated to save you time and money. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"12-when-building-or-buying-a-new-construction-home-\"><strong>When Building or Buying a New Construction Home<\/strong><\/h3>\n\n\n\n<p>Many home builders have their own in-house mortgage companies or special arrangements with lenders to allow special financing options or create incentives that may not be so readily available with an outside lender. <\/p>\n\n\n\n<p>When building or buying a new construction home, closing costs are often incentivized and can be reduced, negotiated, or, in some cases, even paid for by the home builder when using their in-house lender or mortgage company.<\/p>\n\n\n<style>.kadence-column3372_e90b04-f4 > .kt-inside-inner-col{box-shadow:0px 0px 25px 0px 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kt-mobile-layout-row kt-row-valign-middle kt-inner-column-height-full kb-theme-content-width\">\n<style>.kadence-column3372_138935-03 > .kt-inside-inner-col,.kadence-column3372_138935-03 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3372_138935-03 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3372_138935-03 > .kt-inside-inner-col{flex-direction:column;}.kadence-column3372_138935-03 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3372_138935-03 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_138935-03{position:relative;}@media all and (max-width: 1024px){.kadence-column3372_138935-03 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3372_138935-03 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div 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.kadence-column3372_070e7e-1f{align-self:center;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_070e7e-1f{align-self:auto;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_070e7e-1f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}.kadence-column3372_070e7e-1f > .kt-inside-inner-col{background-color:#f7fafc;}.kadence-column3372_070e7e-1f > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_070e7e-1f{text-align:left;}.kadence-column3372_070e7e-1f{position:relative;}.kadence-column3372_070e7e-1f, .kt-inside-inner-col > .kadence-column3372_070e7e-1f:not(.specificity){margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;}@media all and (max-width: 1024px){.kt-row-column-wrap > .kadence-column3372_070e7e-1f{align-self:center;}}@media all and (max-width: 1024px){.kt-inner-column-height-full:not(.kt-has-1-columns) > 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class=\"wp-block-kadence-column kadence-column3372_070e7e-1f kb-section-dir-vertical inner-column-2\"><div class=\"kt-inside-inner-col\">\n<p>Building your dream home with K. Hovnanian\u00ae Homes is a perk in itself, and using our financial services is not only convenient, but can save on upfront costs when buying a new construction home!&nbsp; In addition to closing costs incentives, <a href=\"https:\/\/www.khovmortgage.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">K. Hovnanian\u00ae American Mortgage, LLC\u2122<\/a> promises each buyer accurate terms, exceptional service and a timely commitment.<\/p>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"13-alternativeadditional-ways-to-reduce-your-closing-costs-on-a-home-\"><strong>Alternative\/Additional Ways to Reduce Your Closing Costs on a Home<\/strong><\/h2>\n\n\n<style>.kadence-column3372_f697ec-c7 > .kt-inside-inner-col{display:flex;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col{padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col,.kadence-column3372_f697ec-c7 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:0px;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;align-items:center;justify-content:flex-start;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col > *, .kadence-column3372_f697ec-c7 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column3372_f697ec-c7 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}.kt-row-column-wrap > .kadence-column3372_f697ec-c7{align-self:center;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_f697ec-c7{align-self:auto;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_f697ec-c7 > .kt-inside-inner-col{align-items:center;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col{background-color:#f7fafc;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_f697ec-c7{text-align:left;}.kadence-column3372_f697ec-c7{position:relative;}.kadence-column3372_f697ec-c7, .kt-inside-inner-col > .kadence-column3372_f697ec-c7:not(.specificity){margin-top:0px;margin-right:0px;margin-left:0px;}@media all and (max-width: 1024px){.kt-row-column-wrap > .kadence-column3372_f697ec-c7{align-self:center;}}@media all and (max-width: 1024px){.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_f697ec-c7{align-self:auto;}}@media all and (max-width: 1024px){.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_f697ec-c7 > .kt-inside-inner-col{align-items:center;}}@media all and (max-width: 1024px){.kadence-column3372_f697ec-c7 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;align-items:center;justify-content:flex-start;}}@media all and (min-width: 768px) and (max-width: 1024px){.kadence-column3372_f697ec-c7 > .kt-inside-inner-col > *, .kadence-column3372_f697ec-c7 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column3372_f697ec-c7 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}}@media all and (max-width: 767px){.kt-row-column-wrap > .kadence-column3372_f697ec-c7{align-self:center;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_f697ec-c7{align-self:auto;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_f697ec-c7 > .kt-inside-inner-col{align-items:center;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;justify-content:flex-start;justify-content:flex-start;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col > *, .kadence-column3372_f697ec-c7 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column3372_f697ec-c7 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column3372_f697ec-c7 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}}.kadence-column3372_f697ec-c7 {overflow:hidden;}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_f697ec-c7 kb-section-dir-horizontal inner-column-2\"><div class=\"kt-inside-inner-col\">\n<p><strong>Seller Contributions:<\/strong> In today\u2019s challenging housing market, sellers may be more anxious to make a deal. It never hurts to ask them to contribute to the closing costs.&nbsp;<\/p>\n\n\n\n<p><strong>Apply for Closing Cost Assistance:<\/strong>&nbsp; Depending on your income, you may qualify for loans or grants from nonprofit, lenders or local governments which can help with the initial closing costs.<\/p>\n\n\n\n<p><strong>No-Closing Costs:<\/strong> If you\u2019re short on cash, consider rolling your closing costs into the loan. Keep in mind, this will increase your monthly payment\u2013but save upfront costs.<\/p>\n\n\n\n<p><strong>Close at Months End:<\/strong> &nbsp;In order to reduce the amount you owe in interest at closing, schedule your closing for later in the month. This may save you hundreds on the upfront costs.<\/p>\n\n\n\n<p><strong>Discounts and Rebates:<\/strong> &nbsp;Banks want your business. Oftentimes, banks will offer incentives towards closing costs if you choose them for your home loan.<\/p>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"14-how-k-hovnanian-homes-helps-home-buyers-reduce-closing-costs-amp-move-into-their-new-home-faster-\"><strong>How K. Hovnanian Homes Helps Home Buyers Reduce Closing Costs &amp; Move into Their New Home Faster<\/strong><\/h2>\n\n\n\n<p>When you purchase or build a <a href=\"https:\/\/www.khov.com\" target=\"_blank\" rel=\"noreferrer noopener\">new construction home<\/a> with K. Hovnanian Homes, you can take advantage of various incentives and discounts on closing costs to help you save on the upfront costs of your new home. <\/p>\n\n\n\n<p>So if saving for the upfront costs of a new home is a stretch, consider <a href=\"https:\/\/www.khovmortgage.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">K. Hovnanian\u00ae American Mortgage, LLC\u2122<\/a> for your lender. Buy a new home with K. Hovnanian during our closing costs promotion, and save!&nbsp; &nbsp;<\/p>\n\n\n<style>.kadence-column3372_2d10aa-28 > .kt-inside-inner-col{display:flex;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col{padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col,.kadence-column3372_2d10aa-28 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:0px;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;align-items:center;justify-content:flex-start;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col > *, .kadence-column3372_2d10aa-28 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column3372_2d10aa-28 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}.kt-row-column-wrap > .kadence-column3372_2d10aa-28{align-self:center;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_2d10aa-28{align-self:auto;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_2d10aa-28 > .kt-inside-inner-col{align-items:center;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col{background-color:#f7fafc;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3372_2d10aa-28{text-align:left;}.kadence-column3372_2d10aa-28{position:relative;}.kadence-column3372_2d10aa-28, .kt-inside-inner-col > .kadence-column3372_2d10aa-28:not(.specificity){margin-top:0px;margin-right:0px;margin-left:0px;}@media all and (max-width: 1024px){.kt-row-column-wrap > .kadence-column3372_2d10aa-28{align-self:center;}}@media all and (max-width: 1024px){.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_2d10aa-28{align-self:auto;}}@media all and (max-width: 1024px){.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_2d10aa-28 > .kt-inside-inner-col{align-items:center;}}@media all and (max-width: 1024px){.kadence-column3372_2d10aa-28 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;align-items:center;justify-content:flex-start;}}@media all and (min-width: 768px) and (max-width: 1024px){.kadence-column3372_2d10aa-28 > .kt-inside-inner-col > *, .kadence-column3372_2d10aa-28 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column3372_2d10aa-28 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}}@media all and (max-width: 767px){.kt-row-column-wrap > .kadence-column3372_2d10aa-28{align-self:center;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_2d10aa-28{align-self:auto;}.kt-inner-column-height-full:not(.kt-has-1-columns) > .wp-block-kadence-column.kadence-column3372_2d10aa-28 > .kt-inside-inner-col{align-items:center;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col{flex-direction:row;flex-wrap:wrap;justify-content:flex-start;justify-content:flex-start;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col > *, .kadence-column3372_2d10aa-28 > .kt-inside-inner-col > figure.wp-block-image, .kadence-column3372_2d10aa-28 > .kt-inside-inner-col > figure.wp-block-kadence-image{margin-top:0px;margin-bottom:0px;}.kadence-column3372_2d10aa-28 > .kt-inside-inner-col > .kb-image-is-ratio-size{flex-grow:1;}}.kadence-column3372_2d10aa-28 {overflow:hidden;}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3372_2d10aa-28 kb-section-dir-horizontal inner-column-2\"><div class=\"kt-inside-inner-col\">\n<p><strong>Want to know more?<\/strong> <strong><strong><a href=\"https:\/\/www.khov.com\/contact-us\">Contact Us Today<\/a><\/strong><\/strong> <strong>to learn how K. Hovnanian Homes can help you save time and money on building or purchasing a new or move-in ready home<\/strong>, <strong>or use our home search to&nbsp;<a href=\"https:\/\/www.khov.com\/find-new-homes\">Find a K. Hovnanian Community<\/a>&nbsp;near you!<\/strong><\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Reducing your closing costs doesn&#8217;t just save you money, it can save you time as well, allowing you to start moving, living, and enjoying your new home sooner.<\/p>\n","protected":false},"author":2,"featured_media":2882,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ub_ctt_via":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[281,249,306,319],"class_list":["post-3372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying","tag-buying-a-new-home","tag-closing-costs","tag-new-construction-homes","tag-reduce-closing-costs"],"featured_image_src":"\/blog\/wp-content\/uploads\/2022\/09\/61790_Family-Buying-Home-1600x1024.jpg","author_info":{"display_name":"K. Hovnanian Homes","author_link":"https:\/\/blog.khov.com\/blog\/author\/khovblog1\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reduced Closing Costs Can Move You into Your New Home Faster<\/title>\n<meta name=\"description\" content=\"Reducing your closing costs doesn&#039;t just save you money, it can save you time as well, allowing you to start moving, living, and enjoying your new home sooner.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.khov.com\/blog\/reduced-closing-costs-move-you-into-your-new-home-faster\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reduced Closing Costs Can Move You into Your New Home Faster\" \/>\n<meta property=\"og:description\" content=\"Reducing your closing costs doesn&#039;t just save you money, it can save you time as well, allowing you to start moving, living, and enjoying your new home sooner.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.khov.com\/blog\/reduced-closing-costs-move-you-into-your-new-home-faster\/\" \/>\n<meta property=\"og:site_name\" content=\"The K. 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