Word History: The derivation of the word slave encapsulates a bit of European history and explains why the two words slave and Slav are so similar; they are, in fact, historically identical. The word slave first appears in English around 1290, spelled sclave.
Typically, home buyers will pay between about 2 and 5 percent of the purchase price of their home in closing costs. So, if your home cost $150,000, you might pay between $3,000 and $7,500 in closing costs. On average, buyers pay roughly $3,700 in closing costs, according to a recent survey.
According to Bankrateâs 2017 Closing Costs Survey, the origination and third-party fees on a $200,000 mortgage cost an average of $2,084. No-closing-cost mortgages are attractive to borrowers who donât have the cash to pay fees upfront. Waiving the closing costs may be the ticket to getting a mortgage for a new home or a refinance. If you donât plan to stay in your home for more than five years, a no-closing-cost mortgage also makes sense.