What does it cost to buy a home?

Dated: October 30 2020

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Saving for your first home purchase can be a daunting task! You may be wondering how much you need to save for a down payment, or what your additional closing costs may be.  Those are great questions and that's why it is important to work with a good lender from the start.  All loans are different and have different down payment options and costs involved. A good lender will help you identify the right loan for you, helping you set a goal.

As your real estate agent, I can help by providing a "Net Sheet".  A Net Sheet is an estimate of your "cash to close" as a buyer, or "net proceeds" as a seller.  While this is not a replacement for the services a lender will provide, I want to provide an example. 

The illustration below is for a $450,000 home purchase.  It includes 3% down on a conventional loan with a 3% interest rate (all for illustrative purposes only - actual rates may vary).  You can see what the monthly payment would be, as well as the amount of money needed at closing.

Lenders can make a huge difference, providing creative solutions to keep your down payment or monthly payments affordable! I work with a number of excellent lenders and would be happy to help with a few referrals.  Please reach out if you would like a personalized estimate!  303-870-7270

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Cissy Miller

For the last 20 years, I have worked and raised my family in the Denver southern metro area. I am lucky to have enjoyed all that Colorado has to offer families, outdoor enthusiasts, and career-minded ....

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