What are the Additional Cost Considerations for Home Shoppers

You have made the commitment to buy a house. You have calculated the mortgage rates, the tax payment and made a clear estimate of how much you can afford. Everything seems to be accurate and within your budget. But you will be surprised to know that there are many more expenses involved in home buying than just the cost of the property.

Thanfully, you will not also have to cover the costs of your agent out of pocket. If you are looking for the best agent with local experience, we at HelpFindingMyAgent can help you make a sound decision in this regard.

Here are the additional costs that home shoppers must keep in mind:

• Home Inspection - The mortgage insurer may require you to conduct a home inspection. It can cost hundreds of dollars. However, a home inspection is recommended even if your mortgage insurer doesn't ask for it.
• Survey Costs - The lender may ask you to get a survey of the property's land. It is can also cost you hundreds of dollars.
• Appraisal Fee - You will have to pay an appraiser to determine the value of the house.
• Taxes - You already know that you will have to pay taxes, but don't forget you have some to payas soon as the time of closing.
• Mortgage Insurance - The lender may require you to take mortgage insurance if your down payment is less than 20 percent of the house's price. The policy helps the lender protect the mortgage in case of a default.
• Homeowners Insurance - If you are going to get a mortgage, you will be required to buy homeowners insurance.
• Government Recording Charges - You will have to pay the local and state governments for recording the mortgage, mortgage documents and the deed.
• Title Services - You will have to pay fees related to the house's title.
• Credit Report Fees - You will have to cover the costs to the lender for what they paid to get your credit report.
• Lender's Origination Fee - This charge is for processing your mortgage application.

Then there can be very small charges relating to flood tracking in the mortgage fee and a tax service fee. The government keeps track of changes in the zone's flood status. This will be a tiny fee but will still count. The tax service fee is required to be paid to ensure that the previously paid taxes are up to date. Finally, you will also have to pay for the moving costs, boxes, storage fees and new utility transfers and deposits so keep those in mind too.

After all those fees, it's nice to not pay for a great realtor to help you understand them. Get yours free at HelpFindingMyAgent.com. Contact us today at 1-855-566-6652 and we can help put you in contact with the right professional.