07/21/2026
I’ve done this over a hundred times. Let me help you.
💰 How Much Money Do You REALLY Need to Buy a House?
One of the biggest misconceptions I hear is, “I need 20% down before I can buy.”
Most buyers don’t.
Here’s what you should plan for:
🏡 Down Payment
Depending on the loan, you may only need:
* 3% Conventional
* 3.5% FHA
* 0% VA or USDA (for qualified buyers)
Talk with a lender first—you may qualify for more than you think.
🤝 Earnest Money
When your offer is accepted, you’ll put down earnest money (typically 1–3% of the purchase price). Think of it as a good-faith deposit.
The best part? It gets credited back to you at closing.
🔍 Inspections & Appraisal
Budget for:
* Home Inspection: $700–$2,000
* Appraisal: $500–$800
* Survey (if needed): $700–$1,200
Skipping an inspection to save money can end up costing you much more later.
💵 Closing Costs
Plan on approximately 2–5% of your loan amount for closing costs.
Depending on the market, we may even be able to negotiate for the seller to help cover some of them.
💳 Keep Some Money in Savings
Don’t spend every dollar getting into the house.
You’ll want a little cushion for moving expenses, furniture…and because something always seems to break right after you get the keys. It’s practically a homeowner tradition. 😅
🏗️ Building a New Home?
This is where things can be a little different.
If you’re buying from a builder, you’ll usually use a traditional mortgage and won’t close until the home is complete.
If you’re building a custom home on your own lot, you’ll likely need a construction-to-permanent loan. The lender funds the build in stages, then converts it into a traditional mortgage once the home is finished.
Either way, talking with a lender early can save you time, money, and a lot of guesswork.
Bottom Line
Every buyer’s situation is different, but don’t assume you need a huge savings account to become a homeowner.
If you’re wondering whether you’re ready, let’s talk. I’ll help you understand your options and connect you with a trusted lender so you know exactly where you stand.
