How Much Money Will You need to Purchase a Home?

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As a first time home buyer, you may have asked the obvious question, how much will it cost to purchase a home? There are many expenses that you should become familiar with. In order to help first time home buyers understand and know what to expect in purchasing a home, we provided an example of associated expenses.

The example above are the estimated costs of  a $550,000 purchase price for a single-family home. The total funds will vary depending on whether you purchase a single or multi-family home, the area’s property taxes and homeowner’s insurance, and the day of the month you close.