By Kim Buish 

One of the most common things we’ve seen people experience over the years when they buy Houston Texas Real Estate is sticker shock once they realize the total costs they need to pay for a home.

In today’s post we will share with you some of the costs you will be expected to pay so you can avoid that moment of sticker shock after searching for Houston Texas Homes for Sale and ultimately finding the home of your dreams, only to realize the real costs associated with buying a home.

Appraisal Fees

These fees will be charged by your lender so they can hire an appraiser to estimate the value of the Houston Texas Real Estate you want to buy.

A typical lender will want to lend money that is less than the value of the home or land you want to purchase because if the amount of the mortgage loan is less than the value of the property this means less risk for the lender if you default on your mortgage loan and are unable to pay it back.

Credit Report Fee

During the loan application process your lender will want to run your credit report and ultimately charge you for that fee.

Most credit reports cost about $35 but they give the lender the ability to see what all three of the major credit bureaus are saying about your credit score

Discount Points

These pints are charged by most lenders so they can lower the interest rate you will pay for your mortgage loan. The good news about this fee is that it’s entirely optional so you don’t have to pay it if it won’t fit within your budget as you are buying Houston Texas Real Estate but one thing to keep in mind is that this fee is tax deductible so you will be write it off the next time you pay taxes.

Document Preparation Fee

This fee will be charged to you so your lender can prepare all of your mortgage loan documents.

Endorsement Fee

An endorsement fee is an additional coverage that’s going to be added to your Title Insurance policy.

Escrow Holdback

This is the amount of money which will be held in an escrow account. These funds are typically used when there’s work to be done on the property and the seller agrees to get the work done before you release the final amount of money to them.

Flood Certification Fee

After paying this fee you will know if your Houston Texas Real Estate is located in a flood zone and if you will be required to pay for flood insurance when buying the home or not.

Homeowners Insurance

One of the most common fees that homeowners have to pay is homeowners insurance because this fee covers your home from loss and damages.

Buy Houston Texas Real Estate 

To get started with buying Houston Texas Real Estate, or to view Houston Texas Homes for Sale, contact me, Kim Buish, Realtor(R) with Red Door Realty and Associates by calling me at (281) 852-3667 or click here to contact me online.