Cost to buy house

[waitingpatiently]

Hi everyone, first time buyers here. We are getting closer (6-12months) to pulling the trigger and buying a house. Besides our downpayment what other fees will we have? I have read that we need 2-3% of our loan amount, 9 months of our taxes and 1 year of insurance. Is this correct? Are there any other “hidden” costs?

Thanks,
WP

[stockstradr]

I have a comment. We’re in the Bay Area. Our landlord is a Realtor, and she’s married to one of Silicon Valley’s biggest Realtors. Their company also has a mortgage brokerage office.

They told us that now only two or three lenders will do even 15% down. All others are requiring MORE down payment, and nobody is allowing 10% down payment.

And yes this is for people like us with perfect credit scores. This was a clue to us how much credit markets have tightened up.

[stockstradr]

I have a comment. We’re in the Bay Area. Our landlord is a Realtor, and she’s married to one of Silicon Valley’s biggest Realtors. Their company also has a mortgage brokerage office.

They told us that now only two or three lenders will do even 15% down. All others are requiring MORE down payment, and nobody is allowing 10% down payment.

And yes this is for people like us with perfect credit scores. This was a clue to us how much credit markets have tightened up.

[stockstradr]

I have a comment. We’re in the Bay Area. Our landlord is a Realtor, and she’s married to one of Silicon Valley’s biggest Realtors. Their company also has a mortgage brokerage office.

They told us that now only two or three lenders will do even 15% down. All others are requiring MORE down payment, and nobody is allowing 10% down payment.

And yes this is for people like us with perfect credit scores. This was a clue to us how much credit markets have tightened up.

[stockstradr]

I have a comment. We’re in the Bay Area. Our landlord is a Realtor, and she’s married to one of Silicon Valley’s biggest Realtors. Their company also has a mortgage brokerage office.

They told us that now only two or three lenders will do even 15% down. All others are requiring MORE down payment, and nobody is allowing 10% down payment.

And yes this is for people like us with perfect credit scores. This was a clue to us how much credit markets have tightened up.

[stockstradr]

I have a comment. We’re in the Bay Area. Our landlord is a Realtor, and she’s married to one of Silicon Valley’s biggest Realtors. Their company also has a mortgage brokerage office.

They told us that now only two or three lenders will do even 15% down. All others are requiring MORE down payment, and nobody is allowing 10% down payment.

And yes this is for people like us with perfect credit scores. This was a clue to us how much credit markets have tightened up.

[madmoney]

While it is getting harder to secure a loan, and it may be different in the bay area, I don’t buy only 2 or 3 lenders doing loans for at least 15% down. I just bought a home in southern california in the end of August, 2 of the 3 banks were allowing less than 15% down (but greater than 10%) and the other, Countrywide, was requiring 15% down.

[madmoney]

While it is getting harder to secure a loan, and it may be different in the bay area, I don’t buy only 2 or 3 lenders doing loans for at least 15% down. I just bought a home in southern california in the end of August, 2 of the 3 banks were allowing less than 15% down (but greater than 10%) and the other, Countrywide, was requiring 15% down.

[madmoney]

While it is getting harder to secure a loan, and it may be different in the bay area, I don’t buy only 2 or 3 lenders doing loans for at least 15% down. I just bought a home in southern california in the end of August, 2 of the 3 banks were allowing less than 15% down (but greater than 10%) and the other, Countrywide, was requiring 15% down.

[madmoney]

While it is getting harder to secure a loan, and it may be different in the bay area, I don’t buy only 2 or 3 lenders doing loans for at least 15% down. I just bought a home in southern california in the end of August, 2 of the 3 banks were allowing less than 15% down (but greater than 10%) and the other, Countrywide, was requiring 15% down.

[madmoney]

While it is getting harder to secure a loan, and it may be different in the bay area, I don’t buy only 2 or 3 lenders doing loans for at least 15% down. I just bought a home in southern california in the end of August, 2 of the 3 banks were allowing less than 15% down (but greater than 10%) and the other, Countrywide, was requiring 15% down.

[waitingpatiently]

Can anyone help out with the original question?

[waitingpatiently]

Can anyone help out with the original question?

[waitingpatiently]

Can anyone help out with the original question?

[waitingpatiently]

Can anyone help out with the original question?

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