YOUR DEPOSIT & DOWN PAYMENT
A deposit shows the seller you’re serious
about buying a home. Deposits are
typically 2% of the purchase price and
will be applied towards the down payment
if your offer is accepted (you will need to provide
documentation for your earnest money deposit).
Required down payments start at 3%. A larger down
payment demonstrates your commitment to long-term
homeownership and provides you with immediate
equity in a new home.
These costs include all fees required
to execute the sale, including title
insurance, appraisals, taxes/insurance,
points, etc. Closing costs are 3% - 5%
of the purchase price, on average.
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