In this article, I wanted to go over what a buyer needs to buy a house.
A REALTOR® (optional but highly recommended)
Costs Involved
Some Savings (typically required)
Down Payment (or not)
Emergency Fund (recommended)
Funds for Inspections (typically recommended & sometimes required)
Appraisal (typically but not always required for loans)
Earnest Money Deposit (typically required but not legally required)
Closing Costs & Prepaid Expenses (typically required but sometimes not required from the buyer)
Up Front Deposits for Utilities (sometimes required)
Up Front Association Fees
Other Costs
Cost Depend on Day of Month (& Time of Year) You Close
Other Factors Involved for Those Using a Loan:
FICO Credit Score Above 580 (typically)
2-3 Open Tradelines (typically)
Tax Payment History (typically required)
2 Years of Similar Income History (typically)
A Mortgage Lender (typically)
Debt to Income Ratio
Investor Purchasers
Buying a modular, mobile or manufactured home
Buying an As Is Home
Buying Land
For more of what you need, go to the Mortgage & Financial page, Finding a Home, or my Credit's Impact & How to Build it page.
Disclaimer
Related:
Overarching Related: