What Do I Need and
When Do I Need It?

1. When applying for a residential mortgage, the lender will want an application fee of from $100-$500.

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2. At the time of making an offer to a seller, you’ll need anywhere from $1,000 to $50,000 as a deposit to include with your offer (“earnest money”).

3. Within 7 to 10 days of acceptance of the offer, you’ll need to have an inspection of the home. The home inspector’s charges will run from $175+ for a condominium to $350 for a large home and up to $1,000 for a large property.

4. Before closing, your lender will order an appraisal, and may want you to pay at the time the appraisal is ordered.

5. Closing costs are paid at closing, and your lender will give you an estimate of what’s required. But you won’t know the exact figure until the day before closing, sometimes even the morning of closing. You’ll need to provide “good funds,” which is a bank cashier’s check (made payable to yourself), an electronic transfer of funds, or wired funds.

If you have any questions about any part of the transaction, feel free to give me a call on my direct line at 303-587-3509.