Before you decide to buy a house in Port St. Lucie you’ll need to know how much it will cost. There are two ways you can purchase a home – with cash or with a mortgage. Generally there are more costs involved when you buy with a mortgage and that will be our focus in this article.

There are a few terms used when you purchase a house – closing costs, deposits, and escrow. The fees and expenses that you incur when you purchase a home with a mortgage could include, but are not limited to:

Money in HandClosing Costs

  • Mortgage origination fee – Ask your lender
  • Appraisal fee – typically $350 to $400 and paid before closing
  • Credit Report
  • Settlement or Closing fee to the title company – typically less than $300
  • Title Insurance for your mortgage company – based on your loan amount
  • A survey – approximately $300 – 350


If you don’t put down 20% of your purchase price then your lender usually requests that you have your taxes and insurance put in to an escrow account. The calculation for this can get tricky because it’s based on what month during the year that you close on the house.

As a general rule of thumb, I usually tell customers that their closing costs plus their escrow amount will come to about 6% of their purchase price.

So you add 6% of the purchase price plus whatever your down payment is and that’s a good idea of what it will cost to close on the house.

Keep in mind that there could be extra costs if you are purchasing a home in a Home Owner’s Association.

You should always work with a mortgage lender to find out a more precise total of what your costs will be. Need a recommendation? Visit this page to see a list of Port St. Lucie professionals who can answer your questions.


Purchase Price $100,000
Down Payment 5% = $5,000
Loan Amount = $95,000 ($100,000 – $5,000)
Closing & Escrow at 6% = $6,000
Approximate total at closing: $11,000
(Less any deposits that you’ve already made)

What are the upfront costs when you buy a house?

Generally you’ll need money for the following three things within the first 10 days of having your offer accepted:

  1. Earnest Money Deposit – the money that you put on deposit to show the seller that you’re making an offer in good faith. Usually starts around $1,000.
  2. Inspection – approximately $375
  3. Application Fee with your mortgage company – varies, but usually around $350

After you’re prequalified for a mortgage the next step is to talk to Sarah to discuss what you’re looking for! Working with a REALTOR allows you inside access to properties that are available for sale in the areas in which you are most interested.

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About the author

Sarah Taylor
As a licensed broker associate since 2008, Sarah is also a Florida native selling real estate in her home town, Port St. Lucie.

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