What Are Closing Costs?
What’s Included?
- Credit report fees (the cost of checking your credit record)
- Loan origination fees (which consists of the cost to your lender for processing your loan)
- Attorney fees
- Inspection fees (for inspections requested by either you or the lender)
- Appraisal fee
- Survey fee (so that both you and the lender know where your property boundaries lie)
- Escrow deposit which may cover private mortgage insurance and some property taxes
- Pest inspection fee
- Recording fee paid to a county or city authority to file a record of the property transfer and/or new mortgage lien against the property
- Underwriting fee to cover the cost of processing a loan application
- Discount points (money you pay your lender to get a lower interest rate)
- Title insurance (protection for you and the lender should there be any issues with title to the property)
- Title search fees (costs incurred by the company who checks the title on the property)
Can I Add my Closing Costs to the Loan?
What Can I Expect?
Keep reading for more about buying your first home:
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The 6 Steps of Buying a House
Buying a home is a huge accomplishment, not least because it is a process that takes time and care to navigate. If you’re a first-time homebuyer, you may feel especially daunted by the process and what it involves. Fear not—knowing what to expect and how to plan is half the battle!
How to Get the Most Out of a Home Inspection
When you’re buying or selling a house you want to be sure that you’re getting your money’s worth. You may have a general idea of your home’s value and any necessary repairs, but you won’t know for certain until you hire a certified home inspector who can thoroughly analyze the property. Read on to find out how you can get the most out of a home inspection.
6 Things to Consider When Buying a House with a Pool
Houses with pools have been in higher demand in the past couple of years, perhaps because people are spending more time at home. Owning a pool provides a fun, relaxing way to cool off during hot summer days, as well as a nice gathering place for parties and events. Owning a pool also means that staycations can feel more like vacations, and who doesn’t want that? With this being said, owning a pool comes with its own set of challenges and responsibilities.
How Much Money Do I Need To Save To Buy A House?
Exactly how much cash do you need to have on hand when buying a home? We’re going to dive into how much money you really need to save up to afford a house, the hidden expenses you may not have planned for and some tips for how to find your perfect house budget!
6 Luxury Waterfront Listings We’re Loving This Summer
Owning a waterfront luxury home is a dream for many buyers and we’re excited to show off SIX of our waterfront Global Luxury homes!
Home How-To: Housewarming Parties
The origin of the housewarming party is unclear–some say it’s rooted in the medieval tradition of literally warming the house with the community bringing gifts of firewood, while others say it stems from the idea of lighting a candle on the first night to ward off evil spirits.
