down payment: First Time Home Buyer Information
- 08/25/15 04:03 AM
Are you thinking about purchasing your first home? If this is your first home you don’t want any monetary surprises once you get a home under contract. The following are terms you should be aware of and funds that you may need, depending on your financial situation. Earnest Money - This is the money that you will need to put down when you make an offer on a house. This is required to prove to the seller that you are serious about purchasing their property. Usually this amount is 1% of the purchase price. Once you are under contract the listing agency … (2 comments)
Are you thinking about purchasing your first home? If this is your first home you don’t want any monetary surprises once you get a home under contract. The following are terms you should be aware of and funds that you may need, depending on your financial situation.
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