You will need cash for the down payment and roughly 2% of the home's price for closing costs.
The journey begins by assessing whether homeownership is the right move. While a home can increase your net worth over time through equity, it also brings higher monthly expenses and the responsibility for all repairs. Experts suggest setting aside specifically for inevitable maintenance costs. If you expect to move soon, renting may be a more flexible and cost-effective choice. Preparing Your Finances buying a house for dummies
Before looking at houses, you must understand your "personal affordability number". You will need cash for the down payment
Lenders typically look for the "4 C’s": Capacity (income), Capital (savings), Credit (history), and Collateral (property value). and Collateral (property value).