Published on January 13, 2022
Whether you're looking to buy your first home or trading up to a larger one, there are a number of costs on top of the purchase price that figure into your calculation of affordability. It's important for you to know what some of these extra fees could be, so not to be surprised on closing day. Some costs are one-time fixed payments while others represent an ongoing monthly or yearly commitment. Number one, appraisal fee. Your lending institution may request an appraisal of the property, which would be your responsibility to pay for. Number two, property tax. Depending on your down payment, yo...