Buying a home is likely the most substantial financial decision any of us will make in our lifetime, but the recent trend of mortgage ‘junk’ fees is adding another layer of cost and complexity to the home-buying process.
These expenses — perhaps listed as a transaction fee or an administrative fee — can total hundreds or thousands of dollars. They come on top of the commission payable to brokerage agents by both buyers and sellers but rarely come with an explanation of what the fee covers or why it’s so high.
