Gonna buy? But how much money do you need? There are some extra costs involved to buy a home other then the downpayment most people consider.
Let’s use $400,000 as an example. You’ll want include your downpayment as well as costs for inspections on the home and closing costs which include your title and escrow fees.
Downpayment 5% – $20,000
Inspections – $2,000
Closing costs 3% – $12,000
Total – $32,000
These numbers are all dependent on a lot of different things throughout escrow. So make sure you talk to your realtor and loan officer so you can be prepared.
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