Extra Costs


Application fee: Some mortgage lenders charge a fee to process your application. But, ask if you can get it waived.

Appraisal fee: Your mortgage lender may need to have your new home appraised by a proffesional, and quite often the bill is passed on to you. Sometimes your lender may waive the fee.

Mortgage Broker`s fee: Your mortgage broker may charge a fee that is payable on your closing date. Ask your broker to avoid any surprises.

Land Survey fee: Lenders may require a survey of your property, even if it is an existing survey. Get your lawyer to look into it.

Home Inspection fee: A home inspection is so important. Avoid surprises and protect ypurself.....this is money well spent. More on this on future blogs!

Home Insurance: Mortgage lenders require you to carry fire and extended-coverage insurance because your home is the security deposit on the mortgage. Often you can have thsse payments added to your monthly mortgage payments. Good advise, is to shop around.

 

Blog Archives

Tags