When you obtain a mortgage, you need to pay fees - charged by lenders and third parties – related to the purchase of the home. These fees are called closing costs and are included on top of the cost of the home and down payment.
Here is a list of common closings costs:
Credit Report Processing Fee
Loan Origination Fee (for processing loan paperwork)
Costs of Inspections (Termite, Home, etc.)
Private Mortgage Insurance
Discount Points... read more