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Understanding 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
  • Closing Costs
  • Points: 1 point = 1% of loan
  • Loan originiation 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.

Debra Rickard, Retail Loan Officer
Universal Lending Corporation
6775 E. Evans Ave, Denver, CO  80224
Direct:  (303) 903-3709
drickard@ulc.com
Copyright © 2017 Universal Lending Corporation NMLS#2996

Debra Rickard License#: 100016946 NMLS#: 275283
Regulated by the Division of Real Estate.
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