Real Estate

Zero Down Payment Mistake

A zero down payment loan doesn’t mean you won’t have to bring any money to closing. You’re still responsible for an appraisal, inspection fees, lender fees and title costs. You may have to pay for a survey if the seller doesn’t have a current one. You’ll also have to pay for any other costs that are negotiated in the contract. And don’t forget you’ll put down Earnest Money and an Option Fee for the seller to hold the house for you. So talk to your agent to be sure you understand what upfront costs you’re responsible for covering.

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