What Additional Fees Should I Expect with my Mortgage? |
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Answer:
Whether you’re a first time home buyer, or you’re If you’re offered a great rate from a mortgage company, make sure they don’t rack up so called “junk fees” to make up the difference. Depending on your lender, certain legitimate fees you may expect to see include: *PMI (private mortgage insurance) – unless you’re down payment is at least 20% *Underwriting fees *Appraisal fees *Credit report fees *Survey fees *Inspection fees *Origination fees Your lender should provide you with a “good faith estimate” document. All costs expected to be incurred on the closing of your mortgage should be disclosed in this. In some cases you may be able to waive a few of the fees. Closing costs will vary based on lenders and the area where you live. Trackback(0)
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