Understanding Mortgage Costs

When you see that sign on a house, check out the listing online and find out that the sell price is $250,000 - keep in mind that there are other costs that you may have to take into consideration if you decide to buy.

Here's a short list of some of the other costs that may come up:

  • Down Payment
  • Loan origination fees
  • Interest rates
  • Discount points
  • Private Mortgage Insurance
  • Property Taxes
  • Moving expenses
  • Inspection fees

  • Lawyers' fees (some states require legal representation)

Always speak with a mortgage professional; they should make it clear to you exactly what costs are involved in your transaction.