Here’s what you need to know about additional fees you’ll face at closing.
When purchasing a home, a lot of people think about just the down payment, but the cost of purchasing a home in Georgia is a lot more than just the down payment. Down payments can range from 3% to over 20%, depending on what you want to do.
Be prepared to come to the table with additional funds. Those funds include closing costs that you’ll pay, a lender fee, and an attorney fee. You also have other fees like owner’s title insurance and personal home insurance for a full year. In Georgia, there’s also a transfer tax and intangible taxes. These are the fees that you pay at closing.
“The cost of purchasing a home in Georgia is a lot more than just the down payment.”
Past these closing costs, there are additional fees that you need to consider when purchasing a home. You’ll want to have an inspection. They can be $300 to over $1,000, depending on the inspection services you need. You’ll also have to pay a fee for the appraisal.
While this is not an all-inclusive list of what it will cost you to purchase a home in Georgia, this is certainly the beginning. Feel free to reach out to us via phone or email if you have any questions.