Cost of Homeownership
Costs to Consider
Buying a home involves more than just a down payment and fguring out the monthly mortgage. A range of out-of-pocket expenses can arise during and after the transaction, so be sure to discuss these with your lender and your agent to be prepared.
Lender Fees
Loan Application; Credit Report ( $15–30* ); Appraisal ( $300–500* )
Due Diligence Fee & Earnest Money Deposit
DD and EMD are negotiable fees between the buyer and seller
Inspections
Home inspection ( $400–1,000+* ); Radon inspection ( $100–250* ); Termite inspection ( $75-125+* )
Closing Costs
Rough estimate is about 3% of the sales price. This includes recordation taxes, title insurance, all lender fees and settlement charges. Settlement costs can also be incorporated into the loan, or be reduced with increases to the interest rate on the loan.
Moving Fees
Repair and Maintenance Costs
*Numbers are a general estimation and not guaranteed.
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