How Much Money Do I Need To Buy A Home?
A very common home buying misconception that exists is that a buyer needs a lot of money to purchase a home. This is not always the case. When a buyer asks about the amount of money needed to buy a home, the best answer is that it depends.
In addition to the down payment, buyers also need to consider costs such as an appraisal cost, home inspection cost, and other various costs.
Other typical costs and fees associated with buying a home which can impact the amount of money needed to buy a home include;
- Mortgage processing fee
- Real estate attorney fee
- Underwriting fee
- Bank attorney fee