Truist CEO Kelly King on the completed BB&T and SunTrust merger

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Truist Chairman and CEO Kelly King joins "Squawk on the Street" to discuss the completed merger of BB&T and SunTrust, and the company's strategy going forward.

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Truist CEO Kelly King on the completed BB&T and SunTrust merger
Truist CEO Kelly King on the completed BB&T and SunTrust merger

Here's how the Fed might react to the blowout November jobs report

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CNBC's Steve Liesman reports on how the Fed may react to the blowout November jobs report.

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Here's how the Fed might react to the blowout November jobs report
Here's how the Fed might react to the blowout November jobs report

Have You Budgeted for Closing Costs?

Have You Budgeted for Closing Costs? | Simplifying The Market

Saving for a down payment is a key step in the homebuying process, and it’s not the only piece you need to include in your budget. Another factor that’s important to plan for is the closing costs required to obtain a mortgage.

What Are Closing Costs?

According to Trulia,

When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home, and can include title insurance, origination fees, underwriting fees, document preparation fees, and more.”

For those who buy a $250,000 home, for example, that amount could be between $5,000 and $12,500 in closing fees. Keep in mind, if you’re in the market for a home above this price range, your costs could be significantly greater. As mentioned before,

Closing costs are typically between 2% and 5% of your purchase price.

 Trulia gives more great advice, saying,

“There will be lots of paperwork in front of you on closing day, and not enough time to read them all. Work closely with your real estate agent, lender, and attorney, if you have one, to get all the documents you need ahead of time.

The most important thing to read is the closing disclosure, which shows your loan terms, final closing costs, and any outstanding fees. You’ll get this form about three days before closing since, once you (the borrower) sign it, there’s a three-day waiting period before you can sign the mortgage loan docs. If you have any questions about the numbers or what any of the mortgage terms mean, this is the time to ask—your real estate agent is a great resource for getting you all the answers you need.”

Bottom Line

Let’s get together to discuss the homebuying process, to be sure your plan includes budgeting for what you need to purchase your dream home – without any surprises!

Have You Budgeted for Closing Costs?
Have You Budgeted for Closing Costs?

Donald Kohn: Nov. jobs number reinforces Fed's judgement

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Donald Kohn, former vice chair of the Fed Reserve, discusses the market and the Fed on CNBC's "Closing Bell."

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Donald Kohn: Nov. jobs number reinforces Fed's judgement
Donald Kohn: Nov. jobs number reinforces Fed's judgement

Ed Lazear: November jobs number the strongest in a long time

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CNBC's Rick Santelli discusses today's strong jobs number with Ed Lazear, Stanford University.

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Ed Lazear: November jobs number the strongest in a long time
Ed Lazear: November jobs number the strongest in a long time

Consumer sentiment posts second-best number in 2019, 99.2 vs. 96.5 expected

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CNBC's Rick Santelli reports on new economic data on consumer sentiment and wholesale inventories.

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Consumer sentiment posts second-best number in 2019, 99.2 vs. 96.5 expected
Consumer sentiment posts second-best number in 2019, 99.2 vs. 96.5 expected

China to waive tariffs from some US soybean and pork products

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CNBC's Eunice Yoon reports on the latest details out of the U.S.-China trade talks.

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China to waive tariffs from some US soybean and pork products
China to waive tariffs from some US soybean and pork products

US added 266,000 jobs in November, vs 187,000 expected

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CNBC's Ylan Mui reports on the November jobs report. Economists surveyed by Dow Jones expected 187,000 jobs were added in November, and Refinitiv's consensus forecast was 180,000.

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US added 266,000 jobs in November, vs 187,000 expected
US added 266,000 jobs in November, vs 187,000 expected

Two economists on what they expect from the November jobs report

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Kathy BostJancic, chief U.S. economist at Oxford Economics, and Russell Price, chief economist at Ameriprise Financial, join "Squawk Box" to discuss what they expect from the November jobs report.

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Two economists on what they expect from the November jobs report
Two economists on what they expect from the November jobs report

Millennials Are on the Move as First-Time Homebuyers [INFOGRAPHIC]

Is Your First Home Now Within Your Grasp? [INFOGRAPHIC] | Simplifying the Market

Is Your First Home Now Within Your Grasp? [INFOGRAPHIC] | Simplifying the Market

Some Highlights:

  • According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time homebuyers is 32.
  • With more millennials entering a homebuying phase of life, they are driving a large portion of the buyer appetite in the market, keeping buyer activity strong.
  • More and more “old millennials” (ages 25-36) are realizing that homeownership is now within their grasp, and they’re actively dominating the first-time homebuyer market!

Millennials Are on the Move as First-Time Homebuyers [INFOGRAPHIC]
Millennials Are on the Move as First-Time Homebuyers [INFOGRAPHIC]