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Be prepared to undertake the fees that come along with selling your home.

For most of us, there’s no bigger purchase than buying a home. With big purchases can come big fees. Before signing the paperwork and taking on a mortgage, it’s your responsibility to get educated about the process.

When you’re busy calculating costs for your home’s purchase, be sure to include these cost considerations:

Lender Charges
There are two categories of charges you pay your lender to secure your mortgage. The first is the origination charge, which is the standard cost all lenders charge for the service of giving you a loan. The second charge, mortgage points, are what you can opt to pay in order to secure a lower interest rate.

Settlement Services
Closing a real estate deal requires some administrative and legal work. This includes the cost of pulling your credit report, having your home appraised, and having the sale documented by the local government. Other fees include flood certification, title services, lender’s title insurance, owner’s title insurance, home inspection, postage, survey costs, transfer taxes, attorney, closing, and settlement fees.

Prepaid and Escrow
The final category of closing costs is what you have to pay upfront for fees you will then pay throughout ownership. Some of these are paid into an escrow account, a holding account, where funds can only be accessed in certain circumstances.

Buying a home is no small feat, so it pays to have a trusted, experienced real estate agent on your side! At Jenn Blake Real Estate Group we know how hard your work for you money. Isn’t it time to let your money work for you? Contact us at 858.663.6788.