How Much Do I Need To Budget For To Buy a House?

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Real Estate

All these numbers may vary, these numbers are based off of average numbers... Speak to a professional for numbers specific to you..

Example:
Offer accepted at $300,000


     A. Within 24 hours you'll need to write a check for 5K. This is called your deposit. 
           Your deposit will go toward your (D.) down payment due at closing.

     B.  Within 10 days you'll need to pay for an inspection $500.00

     C.  Within 21 days you'll need to pay $500.00 for an appraisal.

     D.  On the closing day you'll need to pay 18K (Down payment + Closing costs)

 

18K Due at closing, keep in mind you already paid 5K toward this balance at step (A.)


18K + 500.00 + 500.00 = $19,000 total amount needed to save.


 

NOW,
There are first time home buyer programs that helps cover that balance due up to 12-16K!!!
So you could only need to save 3K to buy a $300,000 house…



Make sense? Have any questions?

Contact me.
Jason.pacheco@nemoves.com
Pacheco Homes
Rhode Island First Time Home Buyers