[OH] so do buyers pretty much always pay closing costs in this market?

Let’s say your budget is $500k with 20% down so that’s $100k, but you only have about $120k in cash. Sounds like that might not be tenable, because closing costs are 3-6%, so with a $400k loan you would expect to need to pay up to $40,000 to close, which means you don’t have enough for the down payment and the closing costs.

Is this accurate?

submitted by /u/osprey94
[link] [comments]

Let’s say your budget is $500k with 20% down so that’s $100k, but you only have about $120k in cash. Sounds like that might not be tenable, because closing costs are 3-6%, so with a $400k loan you would expect to need to pay up to $40,000 to close, which means you don’t have enough for the down payment and the closing costs. Is this accurate? submitted by /u/osprey94 [link] [comments]

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