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Originally Posted by Mattyk72
This may have already been answered, but for a first time buyer what kind of cash do I need to have up front? My Dad is always telling me to look at FHA loans, anyone know about these and what they're about??
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The amount you come out of pocket depends on how much you spend on a house, the kind of market you are in, and what kind of financing options you decide on. But suppose you put no down payment on a house, and the house costs $200,000. You'd probly look at paying 5-6k in closing costs.
Like I said before, most lenders allow up to 3% back in cash/closing above the appraised price if you go conventional financing.