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Understanding Costs

When you see that sign on a house, check out the listing online and find out that the sell price is $250,000 - keep in mind that there are other costs that you may have to take into consideration if you decide to buy.

Here's a short list of some of the other costs that may come up:

  • Down Payment
  • Closing Costs
  • Points: 1 point = 1% of loan
  • Loan originiation fees
  • Interest rates
  • Discount points
  • Private Mortgage Insurance
  • Property Taxes
  • Moving expenses
  • Inspection fees
  • Lawyers' fees (some states require legal representation)

 

Always speak with a mortgage professional; they should make it clear to you exactly what costs are involved in your transaction.

Contact Information

Cathy Smotherman-Erickson
Residential Mortgage Loan Originator

3419 S. Coulter St., Suite 2B, Amarillo, TX 79109
(806) 418.8970
cerickson@ulc.com

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Cathy Smotherman-Erickson, Residential Mortgage Loan Originator
Universal Lending Corporation
3419 S. Coulter St., Suite 2b, Amarillo, TX  79109
Direct:  (806) 418-8970
cerickson@ulc.com
Copyright © 2019 Universal Lending Corporation

Cathy Smotherman-Erikson
Texas NMLS Branch ID 11133666 Colorado License#: 100034801 NMLS#: 391856
Kansas LO.0027454
Regulated by the Division of Real Estate.
Colorado & Kansas Licensed Mortgage Company
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