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How Much Will I Need to Buy a Trust Home?

The Trust suggests that buyers have at least $2,000 to $4,000 in savings for home purchase.  In some cases, your lender's mortgage product may allow you to purchase your home with as little as 3% of the purchase price down.  Closing costs (including title insurance and loan fees) can range from 3 to 6% of the loan depending on the loan product you choose. Your lender, your Realtor, and Trust staff may be able to give you information about down payment and closing cost assistance programs that might reduce the amount of money you need out-of-pocket.  Gifts from family or friends may be eligible to help homebuyers with closing costs and down payments.
After you’ve closed on the purchase of your house, we recommend that you still have at least $1,000 in your bank account Remember: once you’re the homeowner, it’s your responsibility to make repairs. Don’t be caught off-guard by an unexpected repair!
Plan to put away at least $25- $50 a month in a savings account dedicated for future repairs. Even if your house is new today, it will need repairs or updates over time.