The first fee you pay when you buy a home is your down payment. Traditionally, this is 20% of the price of the home, but you might qualify for a loan or state grant that requires less money upfront. We’ll help you find the best deal for this new purchase.

These are fees you may not be thinking of when you first start the home buying process because they aren’t paid until the end of the real estate transaction. Closing costs run between 2% and 5% of the total purchase price and are paid to the lender and any third party involved in the sale.

These costs may also include additional fees, such as origination and appraisal fees, documentation fees, discount points, title searches and title insurance, credit report charges and deed recording fees, interim interest, homeowner’s insurance, and tax and insurance escrow.

When you start looking for mortgage loans, the lenders will outline these costs. By looking at more than one lender, you’ll be able to negotiate some of these costs and go with the least expensive lender. And remember, sometimes you can even get the home seller to pay some of these fees.

Earnest money is the “down payment” for the home that will be deposited into an escrow account at the closing attorney’s office.

At close, this amount will be credited toward your sale.

If the contract falls through for whatever reason during the due diligence period, you will get this money back. This amount is typically close to 1% of purchase price.

Due diligence money is a fee paid directly to the seller and in turn the seller takes the home off the market for an agreed upon amount of time (“due diligence period”).

If, for whatever reason, the contract falls through, the seller gets to keep this money. This amount is negotiable and typically ranges from $500–$1000.

We will advise on an amount based on the popularity of the property and neighborhood averages.

Your lender will order your appraisal after going under contract. Appraisals are typically between $400–$500.