What Do You Need To Buy A House?

What Do You Need To BUY A HOUSE? ఆా GREATCOLORADOHOMES.cOM COLORADO SPRINGS REAL ESTATE F8YO in a 1) MORTGAGE PRE-APPROVAL If you're not purchasing a home with cash, you'l| need a mortgage pre-approval. This can be obtained by contacting a mortgage lender. 2 EARNEST MONEY Earnest money is a good faith measure that goes with the sales contract. It proves to the sellers that you "earnestly" want to buy their house. 3 MONEY FOR DOWN PAYMENT Most down payments are between 3% to 5% of the sales price. Your mortgage lender will be the one to help you determine this. MONEY FOR CLOSING COSTS Mortgage closing costs are typically between 1% to 4% of the loan amount. In some cases, these costs can be negotiated into the sales contract. 5 MONEY TO HIRE AN INSPECTOR A home inspector will help you determine if there are any serious problems with the home that need repaired before buying. Created By: Andrew Fortune GREATCOLORADOHOMES.COM SCH COLORADO SPRINGS REAL ESTATE f 8Y ® in a