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Looking to buy a house? Check this primer on what kind of cash you’ll need

moneyDespite the fact that it’s waaaaaay on the other side of town, we’ve been reading NEastPhilly.com for a while now. They have good information, but rarely does it apply to our South Philly obsessed readers.

But this time, we hit the jackpot. A real-estate agent answers reader questions weekly on the site, and this week’s installment could apply to anywhere in the city, so we decided to pass it along.

My fiancé and I are looking to buy a house, but we have very little money to put down. Her parents have agreed to help us out with a down payment, but I am not sure how much we will need. We are looking in the Northeast under $200,000. How much do you think I will need?

Realtor Stacey McCarthy gives a comprehensive answer, breaking down the (estimated) costs to the penny. The short answer is about $15,000, but read the whole thing here.

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One Response to Looking to buy a house? Check this primer on what kind of cash you’ll need

  1. Adam Z May 6, 2013 at 1:33 pm #

    Considering a lender requires homeowner’s insurance, they should probably factor that into the mortgage cost.

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