Little Fees That Annoy

Don’t you just hate being nickelled and dimed to death? If so, the mortgage process is going to drive you mad. The lender is probably going to sell your loan on a secondary investor market, so it tries to make as much money as possible on the front end. This means charging you for everything under the sun. You can expect to pay $200 to $500 for application and processing fees. You’ll be charged another $50 or so for obtaining your credit report. A big charge will be the cost of the appraisal which can run from $300 to thousands depending on the part of the country and size of the house. On top of all this, the lender will surely come up with other small, annoying fees. Make sure to ask for an estimate of all fees in writing before the process starts. It will give you at least something to work off of.

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