When you buy a house, you know the price of the house and the percentage you plan to put down, but what about additional costs? How much money will you actually have to bring to the closing table? The answer can vary depending on many factors. For example, sometimes a seller will pay for a portion or all of a buyer’s closing costs. Regardless of who covers the expense, it’s important to know what’s being paid. 

Private mortgage insurance is required by most lenders if you put less than 20% down on your home. Many people have an aversion to this extra cost, but you shouldn’t be scared of PMI!

How to prepare before you apply for a mortgage.

Most people buy homes based on what they can afford to pay per month. So what does a $300k home cost at a 5% interest rate? What about at a 7.5% interest rate. Take a look at this chart compiled by Amy Oehler of Big Life Home Group.