|The amount of cash that is necessary depends on a number of items including what type of loan is being used. Generally speaking, though, you will need to supply:
Earnest Money: The deposit that is supplied when you make an offer on the house
Down Payment: A percentage of the cost of the home that is due at settlement
Closing Costs: Costs associated with processing paperwork to purchase or refinance a house
In general, FHA Loans will require 3.5% minimum down payment; VA and USDA loans can be done with no down payment (if qualified); and Conventional loans typically require 5% to 20% down. Depending on the loan type, closing costs can be negotiated as to seller paid or borrower paid.