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Foxcecil t1_jbcbihw wrote

Make sure you have at least 15,000 USD in your bank account cause closing costs can make a home that is otherwise 100% financed to being unaffordable.


asscheeseterps710 t1_jbcqhz6 wrote

Only 15k? Damn I can’t wait to build my credit up


Foxcecil t1_jbddu5o wrote

Western Mass btw. I imagine it's a little more in Eastern MA and that includes first time home buyers putting 2-3% down and rolling that percentage into your mortgage.


SYNTHLORD t1_jbcvr51 wrote

You can 100% finance a home? What about a down payment? Is that from a loan?


Foxcecil t1_jbddqfo wrote

You can essentially 100% finance a home... Well more like,you pay 3% down payment and roll that into your mortgage so the bank gives you a little extra to cover it. In that case, though, you will still need around 15k in the bank to pay for all the closing costs.


Tacoman404 t1_jbe5cae wrote

That seems high for closing costs. My closing costs were less than a third of that and my down payment was more than 15k. We put about 9% down only too.