The Real Cost of Buying Your First Home

It's Not Just the Down Payment

Most first-time buyers focus on saving for the down payment. That's important, but it's not the whole picture. Here's what you actually need.

Closing Costs: 2-5% of Purchase Price

On a $400,000 home, expect $8,000-$20,000 in closing costs. This includes:

Prepaids: Another 1-2%

At closing, you'll prepay:

Inspections and Due Diligence: $1,000-$2,000

Before you close:

Moving and Immediate Repairs: Variable

Don't forget:

The Total Picture

For a $400,000 home with 5% down:

Total cash to close: ~$42,500

That's very different from "$20,000 down payment."

Use the Tools

This is exactly why we built the buyer dashboard. The cash-to-close calculator shows you the real number—not just the down payment.

Know before you go.