Prepare Finances + Pre-Approval Continued

Prepare Finances + Pre-Approval Continued

ESTIMATED COSTS

• Option Fee
  $100 – $1,000
• Earnest Money
  1% to 3% of purchase price
• Home Inspection
  $300 – $500
• Survey
  $400 – $600
• Appraisal
  $500 – $1,000
• Down Payment
  3.5% – 20% of the purchase price
• Closing Costs
  2% – 5% of the loan amount

FINANCIALS + MORTGAGE PAYMENT

• Study your credit report. Make note of any errors you see and talk to your Lender about them.
• Compile necessary documents, including pay stubs, bank statements, and past tax returns.
• Determine how much of a payment you are comfortable with. Don’t forget to include taxes, insurance, and HOA fees on top of your base mortgage payment!
• Request quotes from multiple Lenders.