When you buy a home, there are more expenses than the price you agree to buy it for from the seller. Awareness of the additional fees associated with the purchase of a home helps you avoid unexpected surprises. Here are some of the fees that you need to budget for when determining how much cash you need to have on hand or in your checking account when buying a home.
There are many fees associated with securing a mortgage for a home. The application fees typically range from $500 to $1,000. You will also pay a fee for the bank to get your credit report. Some of the other fees you will pay include an origination fee and an underwriting fee. There are additional optional fees, including discount points on the loan's interest…
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