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90-Second Financial Fix

Blindsided homebuyers could face unexpected costs

About the author

Kelsey Hubbard is a freelance broadcast journalist based in Connecticut. She is a former host of ABC News’ Money Matters and was a longtime host and reporter for The Wall Street Journal’s daily video business news shows.

You may have come up with your down payment but unexpected closing costs can shock homebuyers — and their wallet.

US mortgage rates are hovering near record lows, prompting many to jump into the housing market. In the rush to buy, first-time home buyers are finding themselves caught unaware by additional fees.

Here's how to identify and plan for that big purchase.