Egan Financial Group LLC · NMLS 2647764
How much cash do I need to buy a house?
Down payment, plus closing costs, plus tax and insurance prepaids, minus earnest money already paid, minus credits. Closing costs start at $8,500 — change the number. This is a worksheet, not the Closing Disclosure.
What this number is telling you
This is the cash still needed at the table, not the price of the house. Underwriting has to see those dollars on official bank-statement PDFs, not a screenshot.
- How much cash do I need to buy a house?
- Down payment, plus closing costs, plus prepaids (a few months of tax and insurance), minus earnest money you already sent, minus seller or lender credits. Enter those five numbers. The result is a worksheet, not your Closing Disclosure from Egan Financial Group LLC.
- What are prepaids?
- Money the lender collects at closing to start your escrow account — usually a few months of property tax and homeowners insurance — plus prepaid interest from the closing date to the end of that month. The dollar box is a starting guess. Change it.
- Does earnest money count?
- Yes. If it already left your account and is sitting with the title company, subtract it here so you do not count those dollars twice. Underwriting still needs to see the source on your bank statements.
Related: how to print bank statements, closing costs, gift funds, monthly payment, how much house.
Egan Financial Group LLC NMLS 2647764. Estimate only. Not a fee quote or a commitment to lend.