You Don't NEED 20%

Understanding closing costs is crucial for home buyers, and I'm here to help clarify this often-misunderstood aspect of the home buying process.

When purchasing a home, many buyers believe they need to bring a 20% down payment to the table. However, this isn't always the case. Depending on the type of loan you choose, you may only need to bring 3-5% for a down payment. For instance, FHA loans typically require as little as 3.5%, while conventional loans can start at 3% for qualified buyers.

In addition to the down payment, closing costs are another important factor to consider. These costs can include loan origination fees, appraisal fees, title insurance, and more, generally ranging from 2-5% of the home's purchase price.

It's essential to work with a knowledgeable real estate advisor who can guide you through these details and help you understand all the costs involved.

If you have any questions or need assistance, feel free to reach out to me at craig@storyhomegroup.com or visit my website at https://craig.storyhomegroup.com.
I'm here to ensure your home buying journey is smooth and successful!