If you are planning to sell your house and move, here are some of the fees that will be applicable to you as a home buyer in Houston. We really wanted to fit everything into one blog post, but it was becoming quite lengthy! So, we decided to start with the costs of the home buyer go from there. 

This list may not be exhaustive, but here are some of the fees you can expect to pay when buying a home. 

  • Earnest money – This proves your intent to buy the home, and is usually around 1% of the price of the home.
  • Loan Origination Fee – These are broken down into mortgage points, representing a percentage of the loan amount. For example, if a loan amount is $100,000 and you see a charge for $1,000 labeled as “loan origination fee” on your documents, then the broker is charging you on point on the mortgage.
  • Application Fee – The mortgage application fee varies between lenders, but it can be up to $500.
  • Attorney Fee – The best way to find out how much an attorney would
  • Appraisal Fee – For a typical home located within a standard city or suburb, the appraisal fee is generally $350 – $425.
  • Title Search an Examination Fee – This fee is charged by a title company to research the title records to verify that the seller is the legal owner and there are no liens, overdue assessments, or other claims filed that would adversely affect the transfer of the title.
  • Inspection Fee – This fee varies widely as well. The best thing to do is ask around, or do some research online to find somewhere that has reviews you trust, and then call and get quotes. An average range is from $200-$500.
  • Pest inspection fee – The average cost of a pet inspection fee can range between $75-$500 depending on the size and age of the property.
  • Mortgage insurance – Mortgage insurance typically costs between 0.05% and 1% of your entire loan amount. For example, on a $100,000 house, a homeowner could pay as much as $1,000 per year.
  • Flood insurance – Flood insurance is yet another fee that can widely vary. Many areas do not require that you have flood insurance, so you may choose not to get it. However, it is a REALLY good idea to have flood insurance, especially in Houston when rain and weather can be very unpredictable.

In addition, home buyers have to come up with money for the down payment on the mortgage, property taxes and homeowner’s insurance.