Three primary closing costs you should know as a homebuyer.


When buying a home, there are other fees you must be prepared to pay besides the down payment. Here are the three big-ticket items to budget for:

1. Lender fees. These are the fees that come with getting a mortgage, and they’ll vary depending on which mortgage you secure (conventional, FHA, jumbo loan, etc.). Due to this, there’s no precise number you can expect to pay, but you can ask your lender to get a good idea.

2. Title charges. Lender title insurance (which is mandatory), and owner title insurance exists to ensure that the title and deed are recorded correctly with the county. If and when you sell the property down the road, the title insurance will cover the costs incurred to correct the title. There are other charges you can expect to pay, but they’re primarily smaller fees.

3. Inspection fees. Inspections are not mandatory, but they’re highly recommended. The only instance where you’d waive the inspection is if the home you’re buying is highly sought-after and you just want to make sure you have the best offer with the least number of contingencies.

Remember to discuss these fees with your agent during your initial meetings so you’re not caught unaware. As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m here to help.