(11-11-2020, 09:15 AM)Senor_Taylor Wrote: That total per month there is still way less than we pay in rent currently. I suppose the goal should be to have at least 40k cash to put down and pay fees and such right away? Then have 10k saved for repairs and stuff? Yowza
I'll get you a break down of what all I paid to close on a $400k house. You'll need some cash on hand upfront to put in an offer (earnest money) and some money to pay for inspections ideally but most of it is paid at closing. I had to put down $4,500 to make the sellers happy (it's a deposit so you get it back) and I spent $1,200 between the home, pool and plumbing inspections.
This dude has some good content that will answer a lot of your questions especially with FHA loans:
https://www.youtube.com/watch?v=ujc7775SDEk