How much cash will I need to purchase a home?


The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply:

  • Earnest Money: The deposit that is supplied when you make an offer on the house
  • Down Payment: A percentage of the cost of the home that is due at settlement
  • Closing Costs: Costs associated with purchasing or refinancing a house, including title insurance, transfer tax, escrows, and lender fees.