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While home prices vary by local area, they’ve already hit their low point nationally, and now they’re starting to rise again.
- If you’re thinking about buying a home, be sure to plan for closing costs.
- Closing costs are typically 2% to 5% of the total purchase price of a home, and they can include things like government recording costs, appraisal fees, and more.
Wondering if it makes sense to buy a home today even when inflation is high? When other costs go up due to inflation, buying a home helps you keep your monthly housing expense steady.
- Many people believe you need to put down 20% of the purchase price when you buy a home. But recent homebuyers actually put down far less on their purchase.
- And with programs like FHA loans, VA loans, and USDA loans, some qualified buyers are able to put down as little as 0-3.5%.
Holding off on selling your house because you believe there aren’t any buyers out there?
If you’re hoping to buy a home this year, you’re probably paying close attention to mortgage rates.
Thinking about selling your house?