Greetings from your local mortgage experts! We hope the first days of summer are treating you well. With the beautiful summer days approaching, we know many people are preparing to get a mortgage. Great! When shopping for mortgages, the 2 main things people look at are the interest rates, and the price of the house in mind. However, there are many fees associated with getting a mortgage. These can sneak up on people, slowing the process down. So, with this blog, we hope to clarify the process and possible fees you may run into when getting a mortgage.


When first looking for a mortgage, make sure to ask what fees may be associated with using their service. Is there a fee for their services? An application fee? These aren’t found with every service, so ensuring you know what comes with a mortgage lender can save you a few hundred dollars.

However, these are some fees you will definitely need to expect while going through the process:

Appraisal – This will most certainly be required by a lender. You will have to pay a certified appraiser to perform this duty. This can cost between $400-$600, depending on who.

Inspection – This isn’t required, but we always highly recommend one. Having an inspection can help you know what the house in question will require. This can help you negotiate the price if something is found by the inspector. Again, this can run you up around $500, but can save you thousands in repair fees.

Credit Check – Your credit will be checked to see what kind of loan you are eligible for. Depending on what service is used, you can expect a fee of around $20-$50.

Title Search – This will be done by a lender to ensure there are no liens on the property, or anything else that could prevent you from buying the house. The fee could be a few hundred, but that’s better than not being able to buy the house at all!

Survey – A survey of the property will most likely be required by the lender. One may already exist, but if it isn’t current or isn’t there at all, you will need to pay for one. The fee can run between $300-$600.

Closing Costs – You made it to the closing – congrats! When the title is transferred and the sale is closed, you will have a representative present to oversee the process. You will have to pay for their service, and anything else that is outstanding. This could be a few hundred dollars. Double check with your lender to ensure you know what the closing costs are!

There are many other fees that may crop up: processing fees, flood certification, homeowners title insurance, or attorney costs. Make sure you’re on top of your game and know what needs to be paid, and how much! The entire process can cost a few thousand dollars, so be sure to factor that into your mortgage shopping. All services are different, so be on the lookout for the best balance of quality and cost effectiveness.

Your local mortgage professionals are always here to assist! At the Vermont Mortgage Company, we will ensure you are taken care of throughout the entire process. Feel free to reach out at any time at 802-863-2020, or visit our website. We are more than happy to begin your mortgage journey, and to make sure you have the best experience possible.

Loan Calculator

Mortgage News

The Benefits of Having a Mortgage

Warm greetings from all of us here at the Vermont Mortgage Company! We know we talk a lot about mortgages and their different types, but what exactly are the benefits of a mortgage? Amazingly enough, it's more than just a way to pay for a house over a period. There...

10 Home Buying Myths

Many times, so many of us think things are common knowledge, but instead they are just a mere misrepresentation of the truth. Like when we were little and grandma would tell us that if you keep crossing your eyes like that they will get stuck. However, as we get old...

Mortgage Redo – What Does Refinancing a Mortgage Mean?

Greetings from all of us here at your local loan office! With the transition of the seasons finally upon us, it seems like an appropriate time to talk about something else that would be good transition for finances before the holiday season reaches near. Let’s dive...