So Cal Homes

What Does It Cost To Buy a Home?
This is in my opinion what makes or breaks a Lender/Loan officer.
When someone tells you you only need 3 1/2% down to buy a home. RUN!
You also need Closing Costs, Home Inspection, Appraisal, and money to move. The sooner you start to realize that you may need some money in the bank the sooner you will be ready to buy a home. There are a fair amount of variables in how much you need which does make it different home to home. Items such as Property Taxes, Homeowners Insurance, Flood Insurance ( If needed ), also vary home to home and are usually in the payment. If you ask me, What Does It Cost To Buy a Home? I usually guess around 8 - 10% but I have seen it done for less than 1% and monies came from the loan, the Seller etc. The loan was not an FHA loan. If a lender says you can have the seller give you 6% towards closing so its almost free, RUN! Those deals don't happen and if they do, what happens when something goes wrong with the home / property and you need to fix something? There are some low down deals and that is a whole different story. I always say have at least 5k in the bank and then go talk to a few lenders. It's free to talk with lenders and you might find you are on your way to home ownership.