What it Takes to Purchase a Home

What are the costs beyond the cost of the home you select? After you make an earnest money deposit, here are some of the costs and fees you can expect:

Inspection $450-600 Well, septic, sewer, radon may have additional fees.

Schedule the appraisal. $750 fee.

Title company $1000 - $1200 which includes lender fees - processing and underwriting fee.
All lenders have a fee. They may bend on it, depending on your interest rate. They are doing a service and need to be paid.

Setting up escrow - pay the full first year of insurance upfront. This can be rolled into the loan

• 2-3 months of escrowing that insurance payment.
• 2-3 months of your property taxes - which is an annual bill. A couple of months of buffer.
• This could be anywhere from $7000 - $10,000 or more for those million dollars plus homes. Depends on the homeowner's insurance.

There are no more hidden fees - they all need to be upfront. They cannot go up, only down. 
Sometimes the seller pays for closing costs. VA loans could be with no money down. Call us if you have questions about your loan process for your next home.