What are the extra costs of buying a home?
Application & establishment fees, stamp duty + more.
When taking out a mortgage, many people forget to consider the associated fees and expenses. Here are some of the extra costs that you’ll need to consider when you take out a home loan.
Home loan application fees
Most lenders charge a home loan application fee. This can range from loan to loan, and covers:
Property title checks
Attending a settlement
Mortgage fees and costs
Mortgage establishment fees – Lenders generally charge a mortgage establishment fee – a fee for setting up a mortgage.
Property valuation – A third party chosen by the lender, is appointed to determine the value of your land and improvements.
Mortgage registration – Your Mortgage de