If I am purchasing a home, how much cash will I need for a downpayment and closing costs?
Depending on your credit and the loan amount, you may be able to get a home with 0% down. However, the more you put down, the lower your monthly payment will be. Closing costs generally add 1% to 2.5% to the final bill. You’ll be asked to provide the downpayment and closing costs in the form of a cashier’s check at closing.
Related Questions
- Second mortgages are often used to convert home equity into cash for home additions or remodeling projects Is there a company that has no closing costs to refinance?
- If I am purchasing a home, how much cash will I need for a downpayment and closing costs?
- Do I need title insurance if I’m purchasing a brand new home in cash?
