: Your initial equity stake. While 20% ($80,000 on a $400k home) avoids mortgage insurance, the median for first-time buyers is closer to 10% ($40,000). Minimums vary by loan type: Conventional : 3% for first-time buyers ($12,000). FHA : 3.5% ($14,000). VA/USDA : 0% for eligible borrowers.

: Fees for loan origination, title insurance, and taxes. On a $400,000 home, expect to pay $8,000 to $20,000 at the closing table.

When purchasing a home, you must prepare for several immediate cash outlays. For a home, experts recommend having between $47,000 and $55,000 in liquid assets to cover these costs safely.

: $300–$500 to evaluate the property's condition.

: A "good faith" deposit submitted with your offer (roughly $4,000 to $12,000 ) that is later credited toward your down payment or closing costs. Due Diligence Fees :

: $300–$600 required by lenders to verify the home's value. 2. Hidden and Post-Closing Costs