|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 processing paperwork to purchase or refinance a house
However, many programs such as VA and RD do not require down payment. You cannot finance the closing costs into the loan, but you may be able to negotiate the Seller paying all of the closing costs and prepaids on your behalf. Many buyers are able to purchase a home with little to no money out of pocket, except for their initial upfront deposit. Work with me and a local Real Estate Professional to negotiate the best option for you.