This is a question I hear frequently. There are no fees charged to the buyer for using a realtor. The fees are negotiated prior to the sellers house being put on the market by the listing agent. So it's a great idea to find a realtor you trust to work with.
Buying a house costs vary depending on the loan type you qualify for. VA buyers can buy with zero down and have their realtor negotiate closing cost down or to sells price. FHA loans typically ask for a minimum of 3.5% of sells price. (Example $200,000 house will need $7000 for the down payment) Plus closing cost can also be negotiated. (Estimate can vary depending on lender) Conventional loans work the same way but typically require more of a down payment and same for closing.
So if you're not using a VA loan and trying to buy a house aproximately 200k I would recommend saving a minimum 10k.
There are programs for down payment assistance as well. Not all lenders offer this.
My best advise is to shop lenders and see what you qualify for. Typically your pre approval is good for 90 days. Then share with your realtor and discuss how the market is going. Share your wants and must haves to start your home search.
Good luck. Hope this helps you have some more clarity. I am more than happy to talk with you more on your situation.
This is all based on previous and current expierience. Things can always change so get your accurate info from the lender you choose.
Author:Michelle Mendez Phone: 210-287-3501 Dated: April 4th 2019 Views: 26 About Michelle: I have been a realtor with the San Antonio Board of Realty and Texas real estate commission since 20...
View our latest blog posts in your RSS reader. Click here to access.
I have been a realtor with the San Antonio Board of Realty and Texas real estate commission since 2012. I chose this field because my background in sales management. I believe in listening to my clients needs and delivering results in a timely manner. I receive my continuous education from Champions School of Real Estate to further my expertise. My next personal goal is to get my brokers license in 2019.
I really love helping my clients get from point A to Z. Purchasing and selling real estate is a big deal. This is my clients investment and I am here to help them make the best decisions possible. I have met a lot of great clients that are now friends for life. My goal is to not only be your agent but your entir e families agent.
How much should you have saved to buy a house?This is a question I hea
"Very dedicated, knowledgeable and caring about her clients. It is easy to work with her. She is always on the top of my needs and request. She is honest, Hard worker. Very good people skills, easy to negotiate with her. Goes the extra mile to help me to find me find house"