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SYNTHLORD t1_jbcvr51 wrote

Reply to comment by Foxcecil in Obtaining a mortgage / home buying process in MA by ladbom

You can 100% finance a home? What about a down payment? Is that from a loan?

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Foxcecil t1_jbddqfo wrote

You can essentially 100% finance a home... Well more like,you pay 3% down payment and roll that into your mortgage so the bank gives you a little extra to cover it. In that case, though, you will still need around 15k in the bank to pay for all the closing costs.

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Tacoman404 t1_jbe5cae wrote

That seems high for closing costs. My closing costs were less than a third of that and my down payment was more than 15k. We put about 9% down only too.

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