Who you, a Guru? After you read these 262 Mortgages tips, you'll be one. But we're looking to recruit a Guru to blog, write a 101 tip Mortgages book, and become a leader of this community.
Hot topics for both consumers and webmarketers on WebmasterRadio.FM
Every Wednesday, 4PM Eastern.
March 28, 2008, Newsletter Issue #109: Expect Fees with Home Loans
1
Tip of the Week
Buying a home is not a simple transaction. Expect to pay several fees associated with your home purchase and home loan.
Fees include home loan origination fees, broker fees and fees for your transaction, settlement and closing. Don't be intimidated by the fees if you don't understand them - ask before you pay.
Get an idea of the fees when you first sit down with a broker or lender who should be able to estimate your fees. Find out what each one covers. Don't be afraid to negotiate lower fees as you start the process of getting a home loan.
Expect upfront fees, such as appraisal fees or fees to process your home loan application. Ask for an explanation of any fee you do not understand. Several costs sometimes are combined into one fee, so you may not know what you are paying for unless you ask.
There are ways to avoid fees. You can borrow the money needed to cover fees. But it likely will increase your home purchase loan. Lenders also advertise no-cost home loans, but they usually come with higher mortgage rates.
2
About LifeTips
Now one of the top on-line publishers in the world, LifeTips offers
tips to millions of monthly visitors. Our mission mission is to make
your life smarter, better, faster and wiser. Expert writers earn dough
for what they know. And exclusive sponsors in each niche topic help us
make-it-all happen.
LifeTips is part of ideaLaunch, the hub for a group of websites offering
solutions that help clients improve mind share, market share and profit online.
