What buying actually costs you
Every dollar that leaves your pocket between the offer and the keys. In order, no fine print.
Money · 14 points
Who it’s for
For the buyer who’s got the down payment and wants to know what else is coming.
What’s on the list
- 1
Good-faith deposit (escrow deposit): you hand it over when the contract gets signed, and it applies to your purchase. Not an extra cost. Just your money, early.
- 2
Down payment: the piece you’re not financing. Depends on the program — FHA from 3.5% with a 580 score or higher (HUD), VA can go to 0% if you qualify (VA), and conventional programs like HomeReady start at 3% (Fannie Mae).
Fannie Mae — HomeReady Mortgage - 3
Appraisal: the lender orders it to protect their loan, and you’re the one paying for it.
11 more points to go
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