Even if you've purchased several homes in the past, there always seem to be costs at the closing table that you weren't prepared for. While mortgage brokers are now required to disclose all of their closing costs, there are other costs not associated with a mortgage you will need to be aware of. This is especially true if this is your first home.
- Appraisal Fee- While appraisals tend to be very subjective, they are still required by all lenders. The appraiser will compare the home you're interested in buying to other homes with similar features in the same neighborhood or area that have recently sold. They like to use data from the last 3 months but will go up to 6 months out if necessary. Costs range from $175-$500 depending on the size of