I’m Buying A House, What Else Do I Need To Pay Besides The Down Payment?
When buying a home in Campbell California, some buyers don’t realize that they need to bring more than the down payment in order to finalize the purchase of their Campbell CA real estate property.
Even though certain closing costs are negotiable, some typical closing costs paid by someone buying Campbell CA real estate include, but is not limited to the following:
- Loan Origination Fee
- Flood Check Fee
- Tax Service Fee
- Appraisal Fee
- Credit Report Fee
- Underwriting Fee
- Prepaid Loan Interest Charges
- Lender’s Title Insurance Policy
- Notary Fee
- Recording Fee
- Courier Charge
- Inspection Costs
- Home Warranty Cost
- Prepaid Property Taxes
- Homeowner’s Insurance Charge
When you apply for a home purchase loan, you should receive from your mortgage broker or lender a Good Faith Estimate (GFE) that details all the costs associated with your Campbell CA real estate purchase. This GFE should include most, if not all of the costs listed above.
For those who want to pay all cash, instead of financing part of their home purchase, only the lower half of the costs apply (starting with notary fee). Although an appraisal is not required for an all cash purchase, it is highly recommended to get one to ensure that you are not paying more than fair market value for the Campbell CA real estate property.
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