when buying a house what sort of fees will come out of your own pocket?

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What kind of costs will come out of your own pocket when buying a house our Realtor said that closing costs and escrow fees will come out of our own pocket and are not included in our loan is this true or what can we do to get it to come out of your loan and what other fees are there?

2 comments to when buying a house what sort of fees will come out of your own pocket?

  • Doctor Deth  says:

    expect to need 10% of house price cash up front for down payment and closing costs
    loan origination fee -- 1% ($150k house = $1500)
    title search $400+
    bank appraisal $300+
    any number of months of property taxes to be determined
    other filing fees $100’s
    termite and radon tests and house inspection $400+
    other stuff I can’t remember $100’s

  • David Beasley  says:

    Even if you are putting 20% down, you should negotiate the contract so the SELLER pay your closing costs.

    I closed a handful of FHA and one USDA rural purchases last month. They each negotiated the SELLER paying their closing costs and 3% down (FHA).

    Each of my buyers paid various fees out of their pocket (~$350 appraisal, ~$25 credit, ~$500 earnest $, ~250 home inspection).

    So, each put roughly $1000-$2000 into a house and walked into $15000 -- $25000 in equity! I love my work!

    Best of luck to you!

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