How much does it cost to buy a home?

 

How much does it cost to buy a home?

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You should be financially prepared for more than just your monthly mortgage payment.

Here are the typical costs associated with buying property:

  • Mortgage application / credit check ($0-$40)
  • Earnest money (personal check or cashier’s check of no less than $500, $1,000, 1%, or whatever amount is agreeable to both buyer and seller)
  • Appraisal fee ($500-$600)
  • Inspection fees ($400-$700+)
  • Closing costs and down payment (depends on the terms of the deal, chosen lender, title company, and financing type) — try Main Street Title Company’s Closing Cost Calculator
  • Utility activation fees
  • Moving fees (moving company, boxes, truck rental, etc.)

Real Estate Answers: Buying

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