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Other Mortgage Costs

Unfortunately, a mortgage is never a simple matter of borrowing a certain amount of money for a specified term and rate. There are various other costs involved, and it’s these costs that often separate a good mortgage deal from a bad one. Some of these costs cannot be avoided; others can be avoided or at least reduced. The more you know about them, the better you will be prepared to find the best mortgage deal for you.

Other Home Buying Costs

There are some costs that are part of buying a home that are not part of the mortgage costs perse, although they are sometimes rolled into the amount financed. These fees include appraisal, surveyor, attorney, electrical/mechanical/plumbing inspection (called EMP inspection), deed registration, and title search. These topics are beyond the scope of this book, but you do need to be aware of them.



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