Cash Needed to Buy
Find out exactly how much cash you'll need upfront to close on your new home. Use this to check if your current savings are on track.
Transaction Details
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Bank and Title (legal) fees usually hover between 2% and 4% of the loan amount.
Offsets
Funding taxes & insurance for the first months
What affects my cash to close?
Your "Cash to Close" is more than just your down payment. It comprises three main buckets:
- Down Payment: The required percentage of the home's price you must pay upfront.
- Closing Costs: Bank fees, home appraisal, and legal work (Title).
- Initial Holding Account: Extra money required upfront to set up your account that will pay your property taxes and home insurance for the first few months.
Brokerage Disclosure: eXp Realty is a licensed real estate broker. Information provided is subject to change.
Equal Housing Opportunity. We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
Disclaimer: Information is for educational purposes only and is not financial, legal, or tax advice. Estimates are not guaranteed. Consult a licensed mortgage professional for exact numbers.
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