Some home buyers (especially first-time home buyers) think that a down payment is the only cost of buying a home. However, they soon realize that their down payment is one of many costs that require cash or a check upfront. So, how much should you expect to pay before closing on your new home?
Depending on the type of mortgage you choose, you will probably make a down payment anywhere between zero and twenty percent of the purchase price of your home. This range is very large, but the good news is that you get to choose what size down payment you’ll make in the very early stages of house hunting. You can talk with your home loan officer to find out what mortgage type is best for you (and this decision will largely be based on how much money
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