Most often people only look at the cost of the house ant the interest rate at which they get the loan. But they tend to overlook the other fees that comes along with buying the house
Private mortgage insurance
When you pay only a small down payment amount to your house, you have to purchase private mortgage insurance.
Homeowner’s insurance
It is important for you to have a insurance when you borrow money to purchase a home.
Title insurance
This insurance will help you in the case when the person who sold you the house is not the actual owner of it or information on the title or fast .
Appraisal fees
It helps to establish current fair market value for tax purposes
Escrow fees
Your escrow account will hold the money while the buyer and seller finalize a agreement and also a portion of the monthly mortgage payment will go to the escrow account to pay for property ax and insurance
Points or origination fees
1 percent of the loan amount is given to the bank or lender for their service in creating a loon
Credit report fees
Lender will verify your credit report to secure you a loan
Documentation preparation fees
Fees to prepare the documents of the loan by the lender or broker
Survey fees
Survey is taken to know he exact boundaries of the property
Pest or mould inspection
An older home may require the inspection of the pest depending on its location of the home
Property taxes
You may need to pay tax for your property, municipal taxes, fees for sewer or water etc.
State recording fees
This fee is required to record and old information regarding the sale.
there may not be need for you to pay all the fees , but remember to pay the fees which you ought to pay while purchasing your new home