Our Expert’s Insights Featured on QuickenLoans.com!
We are thrilled to share some exciting news! Yancy Forsythe, owner of Missouri Valley Homes, was recently quoted in an article on Quicken Loans titled “How Much Money Do You Need To Buy A House? A Guide”. This article covers important information about buying a house, like how much money you need upfront and what costs to expect along the way. Yancy’s insights are here to help make the home-buying process clearer for everyone.
Yancy Forsythe on Earnest Money
In the Quicken Loans article, Yancy explains how earnest money works when buying a home. He says, “Earnest money is a deposit made to show the seller you’re serious about buying. It typically ranges from 1% to 3% of the purchase price.” This deposit is important because it shows the seller you are committed to the purchase, but it also protects you if something goes wrong. If you set certain requirements, like making sure the home passes inspection, you can get your earnest money back if those conditions aren’t met.
Understanding the True Costs of Buying a Home
The article also covers the different expenses buyers need to think about when buying a home. The down payment is often the largest upfront cost. While a 20% down payment is not required, it helps avoid paying for private mortgage insurance. But there are also closing costs, which can be about 2% to 5% of the home’s price, covering fees like title insurance, credit checks, and appraisals.
Yancy also discusses the cost of moving. Moving expenses vary a lot based on distance and how many items you have. According to Yancy, moving locally might cost between $500 and $5,000, while moving farther away can range from $2,000 to $10,000.
Why This Matters to You
Knowing how much money is needed before buying a house helps you plan and be ready for everything involved in the buying process. At Missouri Valley Homes, our goal is to help make homeownership as easy as possible. Whether you’re selling your house or thinking about buying, we can provide guidance and options to suit your needs.
We’re very proud that Yancy’s experience and expertise were recognized in a resource as trusted as Quicken Loans. It highlights our ongoing commitment to helping people with real estate in Missouri. If you’re curious about buying or selling a home, please feel free to reach out to us for more information or just some friendly advice!
Learn More and Read the Full Article from Quicken Loans
If you’d like to read the full article and see all of Yancy’s expert advice on buying a home, check it out here: How Much Money Do You Need To Buy A House? A Guide.
