At Home With Anjanette

If you’ve been thinking about buying a home but feel unsure about the money side of things… you’re not alone.

This is one of the first questions I get:

“How much do I actually need to get started?”

Most people assume it’s way more than it really is.

Let’s break it down simply.

The Biggest Myth I Hear

A lot of buyers think they need 20% down.

That’s usually what stops them before they even start.

But in reality…

Most of the buyers I work with are putting down 3% to 5%, depending on the loan.

So if you’ve been waiting because you think you need a huge amount saved… you might be closer than you think.

What You Actually Need to Think About

There are really three main pieces.

Down payment

This can vary based on the loan program.

A lot of buyers get in with 3%–5%.

Closing costs

These are additional costs that come with the purchase.

They usually range around 2%–3% of the purchase price.

Sometimes we can negotiate for the seller to help with these.

Monthly payment

This is the part that really matters.

Instead of focusing only on price, I always tell buyers to focus on what feels comfortable monthly.

That includes:

• Mortgage
• Taxes
• Insurance

Why Talking to a Lender Early Helps

Even if you’re “just thinking about it”… this step makes everything clearer.

When you talk to a lender, you find out:

• What you qualify for
• What your monthly payment could look like
• What you need to adjust (if anything)

It takes the guessing out of it.

What I’m Seeing Right Now

A lot of buyers aren’t stuck because they can’t buy.

They’re stuck because they don’t have clear numbers.

Once they do… things start to make more sense.

How This Connects to Open Houses

Since you’re starting to go to open houses (or thinking about it), this matters even more.

If you walk into an open house without knowing your numbers:

• It’s easy to look at homes that don’t fit
• It’s harder to make a decision
• You can miss opportunities

But when you’re prepared…

You walk in differently.

More confident. More clear.

A Quick Example

I’ve had buyers come to me thinking they needed way more saved than they actually did.

Once we connected them with a lender and looked at real numbers…

They realized they were already in a position to move forward.

That’s usually the turning point

Common Mistakes I See

Waiting until you have “perfect” finances
Assuming you need 20% down
Not talking to a lender early
Looking at homes before knowing your budget

So… How Much Do You Need?

It depends on your situation.

But for many buyers:

• A few percent down
• Some funds for closing costs
• And a comfortable monthly payment

That’s the real starting point.

FAQ

Do I really need 20% down?

No. That’s one of the biggest misconceptions.

Can I get help with closing costs?

Sometimes, yes. It depends on the situation and how the offer is structured.

When should I talk to a lender?

As early as possible. Even if you’re just exploring.

Can I go to open houses before being pre-approved?

Yes… but it’s always better to know your numbers first.

Next Step

If you’re thinking about buying and want to know what your numbers actually look like, that’s where I can help.

I’ll walk you through it step by step.

Anjanette Braden
Real Estate Agent
707-410-8446