What You Need to Know about Home loan Fees
First home buyers have a lot of fees and charges to consider when they are buying a house.
One of the first costs you are likely to encounter is the home loan application fee.
This charge is often referred to as the establishment fee and covers the cost of the paperwork associated with your home loan application.
Some application fees may include extra costs such as a property valuation - but this tends to vary amongst lenders.
Since these fees do vary from lender to lender - it is essential to discuss this and any other charges with your mortgage broker.
A broker can offer you up-to-date information on which fees and charges apply to your purchase and they can provide you with an itemised list of the costs.
He or she can then help you budget for these additional fees to ensure you incorporate them into your home loan fees.
As a home loan specialist, a broker can take you through the home loan acquisition process step by step and can provide insight into a range of products.
To get more detailed information about your situation, talk to a Loan Market mortgage broker today.