How much money is needed to buy a home?

How much money do you need to buy a home? It comes down to two parts: your down payment and your closing costs. Here’s a $400,000 example, plus ways the lender and down payment assistance programs can help.

Brick home with a house key and IRS Form 1040, representing homeowner tax breaks.

Owning a home can lower your tax bill in two ways: the mortgage interest you pay during the year, and some of the closing costs in the year you buy.

Contact Us

Rob Kuehne Team - AnnieMac Home Loans
6509 Windcrest Drive
Ste 500
Plano, TX 75024

Phone:
(214) 542-4095

Business Hours:
Mon-Fri 9:30am-9:00pm
Sat 11:00am-4:00pm
Sun 1:00pm-6:00pm

Licensing

Personal NMLS #1785878
Annie Mac NMLS # 338923

nmlsconsumeraccess.org

Equal Housing Lender

American Neighborhood Mortgage Acceptance Company LLC (dba AnnieMac; AnnieMac Home Lending Group; AnnieMac Home Mortgage; AnnieMac Momentum Group; Community Mortgage Team; Home Solution Lenders; MVM Group Powered by AnnieMac OVM with AnnieMac Home Mortgage; The Tribe Mortgage Group), 700 East Gate Drive, Suite 400, Mount Laurel, NJ 08054. Lender NMLS ID# 338923 (www.nmlsconsumeraccess.org). American Neighborhood Mortgage Acceptance Company LLC is not affiliated with or endorsed by any state or federal government entities or any entities sponsored by the same. American Neighborhood Mortgage Acceptance Company LLC holds the following licenses or approvals from the entities listed below which allow it to act as a privately owned retail mortgage lender.

Cash2Keys® Cash2Keys is the registered service mark of Analytical Sciences Marketing Group, LLC. 'Cash Offer’ and 'Buy Now, Sell Later' and 'Cash Bridge' programs are fulfilled by AnnieMac Private Equity Cash2Keys (Cash2Keys), an affiliate of AnnieMac Home Mortgage (AnnieMac). Cash2Keys is not a financial institution and does not originate or issue loan commitments. You must be pre-approved by Cash2Keys for each program's income and collateral requirements. Once approved, the offer and purchase will be in the name of Cash2Keys. You must then purchase the home from Cash2Keys within 180 days. You are required to pay all transfer taxes associated with the purchase of the home. AnnieMac Cash2Keys reduces or eliminates contingencies in the purchase contract. If the buyer does not terminate the agreement under a permitted contract contingency or term, AnnieMac Cash2Keys will purchase the property if the buyer is unable or unwilling to do so. Contract terms that allow a buyer to terminate may include, but are not limited to, contingencies such as septic inspection, home inspection, appraisal, and condominium warrantability. Visit anmac.me/cash for terms and conditions. For complete licensing information, please visit: https://annie-mac.com/licensing/

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.

The Rob Kuehne Team

How much money is needed to buy a home?

Posts Tagged ‘closing costs’