What are the extra costs when buying a house?

Question

When you buy a house for the first time. Besides mortage payments, what kind of extra costs will there be and how much will they cost?

Answer 1

The extra costs are ones related to your loan;such as loan app fee, credit check, processing fee,and appraisal report of the value of the house,.

The other costs are the closing costs such as recording fees, points, survey report, termite inspection and clearance report, title search , inspection report which is optional which checks the airconditioning, any appliance, electrical wires such as circuit breakers if up to code, roof inspection, pool inspection if avail.,basicallly structure's inspection; the buying agent's commission if not offered by seller to pay, any lawyer's fees as some states require.

Here in Ca, Title Co does all the work ; so there are charges emanating from the title co. the downpayment or deposit.
that sure covers everything, I hope. Roughly we're talking about $5,000-$6000out of pocket expenses. Oh yeah, the impt outstanding property tax which will be prorated from the time you assume ownership.; otherwise there will late penalty and interests.

Answer 2

There are plenty of fees that you might want to check out. If you are taking out a loan to mortage the house, you might want to look at each type of loan, as there will be costs for that (all the fine little print). There will probably be some type of closing cost and if you are a part of a homeowner's association, you'll probably have to pay an annual homeowner's fee (sometimes this can get quite expensive, depending on the area you live). I'd also make sure you are aware of the possible fees from the person above (title, appraisal, insurance, escrow fees, maintanence, etc). If you are unaware, try doing some research, since it will probably be the biggest purchase of your life. if you do some research, you can get some really great deals out there and will know what to expect before stepping foot into your new home. Good Luck!

Answer 3

Appraisal Fee $ 300- 400
Title Feee $1500-2000 on purchases
Processing Fee
Origination Fee
Endorsments
Possible Escrow Fees
E-mail me with anymore questions

Answer 4

Taxes, insurance, and repairs are additional costs not to mention utilities, yard maintenence, and incidental expenses (i.e. needing an exterminator). Collectively you will need roughly 35% of what you pay in your monthly mortgage payments set aside to be prepared for these expenses.

Answer 5

The answer depends on where you live.

recording fees
prepaid hazard and flood insurance for 1 year
title search and title insurance
lender fees
inspection
survey
attorney
property tax escrow or prepayments

Answer 6

other than the fees associated with the loan...you will know have any maintance costs, lawn care, insurance (which most times is included in you morgage payment), utilities, real estate taxes, and probly many more that I have forgotten.....but nothing can beat the feeling of owning your own home.

Answer 7

email me. i can help. [e-mail]