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.
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