Cha-Ching Check: Cash Beyond Your Down Payment

Shopping for a house can leave you exhausted and spiritually broken, especially when that dream home is proving tricky to find in your price range. Even though you’ll eventually find the right one, you may also find yourself cutting it close on cash if you didn’t properly prepare financially. So it’s time for your pre-purchase cha-ching check.

What It Costs to Close

For sellers, closing is a fairly simple process, and most of the time they walk away with a check in hand. But for buyers, closing can be one of the largest expenses of their lives. You know it’s going to be pricey, but it’s a much easier pill to swallow if you’re totally ready for everything that’s going to go into that transaction. And there’s a lot more to paying for your new home than just coming up with the down payment. If you’re like most borrowers, to cover additional expenses on the big day, you can expect to add an additional three to six percent on top of that big chunk you’ve saved.

Those costs include, but aren’t limited to:

Have Questions About Closing Cha-Ching?

Today is a great day to get connected with an experienced mortgage lender or broker who can explain the fees involved in closing a loan for your specific situation. But where will you find one? Look no further than your friendly HomeKeepr community! Before you know it, you’ll have the name of a lender you can trust to help prepare you for the financial commitment required to buy your next home.