Profile picture for MilMan74

Buying a house questions

To whom it may concern;

I'm looking to purchasing a home, I have a couple of questions. 

1. Are there any hidden fees that I should be aware of that my realtor may not share with me?

2. Is there an estimate that of what my house payment would be? For instance, can I assume if I purchase a home for 280K that my house payment would be 10% of the purchase price?



Thank you,

Joe Nichols  
  • April 04 2010 - Aurora
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Answers (2)

Best Answer

Profile picture for Charles Moore
Hi Joe-

Any fees with your Realtor and any lender will be upfront and there should not be any surprises. The new good faith estimate that went into effect this past January 1st ensures that any lender compensation cannot increase. Working with trustworthy professionals is the best way to make sure no hidden fees pop up.

As far as your monthly house payment goes using 10% of the purchase price will not be accurate at all. I would recommend just using an online mortgage calculator such as the ones found on this website. Don't forget to add taxes, insurance, and possible mortgage on top of the principal and interest payment.

Lots of good deals out there right now. Good luck!
  • April 04 2010
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Agents would have to disclose any fees to you up front but generally Buyer's agents fees are paid by the seller.

You need to call a lender to get payment information because they will have current rates.
  • April 14 2010
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