When you are buying a home it is best to be prepared for any costs along the way.
APPRAISAL
Typically the appraisal is a buyer cost. Your lender may ask you to prepay the appraisal. The cost of an appraisal can range from approximately $400 to $600.
CLOSING COSTS
Buyer’s closing costs can approximately range from 2%-3% of the purchase price. Depending on the home you want to purchase and the seller’s situation, you may be able to ask the seller to cover some / all of these costs.
DOWN PAYMENT
Typically you will need to have a down payment. The down payment depends on what type of loan you qualify for. 100% financing (no down payment) may be available. Your lender will supply you with this information and tell you what loans you qualify for.
EARNEST MONEY
Earnest money is a check you write when you make an offer, to show the seller you are earnest about buying their home. This check is written and, upon acceptance of the offer by all parties, deposited with title. The earnest check is credited to you at closing. Generally 1 to 2% of the purchase price is acceptable earnest money. In some cases, half a percent of the purchase price may be accepted.
HOME INSPECTION
The cost for a home inspection in Idaho is the buyer’s responsibility. Inspectors require payment at the time of the inspection. This cost can range from approximately $325 to $500 depending on the size of the home.
MOVING COSTS
Take into consideration how much it may cost you to move.
