Will I Need To Buy A House | How Much Money

Your initial equity stake. While 20% is the gold standard to avoid private mortgage insurance (PMI), the median down payment for first-time buyers is roughly 9%.

A "good faith" deposit made when your offer is accepted. This is eventually credited toward your down payment or closing costs. how much money will i need to buy a house

The following table estimates the liquid savings required based on common 2026 purchase price ranges and typical low-down-payment (3–5%) scenarios: Purchase Price Down Payment (3–5%) Closing Costs + Prepaids Total Cash Needed $9,000 – $20,000 $9,000 – $12,500 $18,000 – $32,500 $400,000 – $499,000 $20,000 – $50,000 $10,500 – $14,000 $30,500 – $64,000 $500,000 – $599,000 $50,000 – $120,000 $11,500 – $15,500 $61,500 – $135,500 Data sourced from Vonderau and The Mortgage Reports . How Much Money Do You Really Need to Buy a House in 2026? Your initial equity stake

These are the fees required to finalize the loan. On a $400,000 home, expect to pay between $8,000 and $20,000. This is eventually credited toward your down payment