“What Cost You Can Expect to Pay When Buying A House?”

Today is May 22, 2020 let’s explore “What Cost You Can Expect to Pay When Buying A House?”

My name is Susan Jacobs and I am a realtor at Samson Properties in Gainesville VA. Today I would like to Explore “What Cost You Can Expect to Pay When Buying a House?” If you have never bought a home before you might think that the only cost you have is the down payment. That’s one part of what you can expect to pay.

Depending on the loan you are applying for and the amount of money you are putting down you could have upfront PMI Private Mortgage Insurance, MI Mortgage Insurance or Funding Fee.

Other fees include:

  •          Earnest Money Deposit
  •          Home Inspection
  •          Radon Inspection
  •          Appraisal
  •          Credit Report
  •          Termite Inspection
  •          Well Inspection Fee (if home is not on public water)
  •          Water Test Fee (if home is not on public water)
  •          Septic Inspection ( if home is not on public sewer)
  •          Title Insurance
  •          Home Warranty
  •          Points on the Loan
  •          Origination Fee
  •          Settlement Agent Fee
  •          Document Prep Fee
  •          Brokerage Flat Fee
  •          Title Abstract Fee
  •          Title Search and Binder Fee
  •          Survey
  •          Home Owners Insurance
  •          Property Taxes
  •          Recording Fees to the State
  •          Recording Fee To the County
  •          Prorated Real Estate Tax
  •          Prorated Interest
  •          Prorated HOA or Condo Fee

Other than the down payment I usually estimate that what cost you can expect to pay when buying a house referred to as closing cost, are usually around 3% of the sale price, depending on the number of points for a particular interest rate. While this is a fairly inclusive list I would throw another $1000 in just in case. When you apply for a mortgage your lender will give you a Good Faith Estimate with all the cost so you will know upfront how much money you will need at the time of closing.

I hope this has helped you to understand What Cost You Can Expect to Pay When Buying A House. My name is Susan Jacobs with Samson Properties in Gainesville Va If you are thinking about buying or selling a home please give me a call. If you need the name and number of a local lender I can help with that as well. I can be reached at 703-347-4418 or susan@susanojacobs.com . I’m here to help with all of your real estate needs.


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Susan Jacobs
Associate Broker

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Comment balloon 1 commentSusan Jacobs • May 22 2020 06:53PM


Susan, great post, as some buyers think of just the purchase price, and not all the other costs associated.

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373) 8 months ago

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