Let's break down the real numbers for buying a home in our area, whether you're looking at Fort Mill, Waxhaw, or other Charlotte metro neighborhoods. This is where a lot of first-time buyers get sticker shock, so let's be totally transparent about what you'll need upfront. For the down payment, conventional loans typically require 5-20% down, though you can sometimes go as low as 3% with certain programs. On a $400K home in Ballantyne, that's $12K-80K just for the down payment. FHA loans let you put down as little as 3.5% ($14K on that same house), but you'll pay mortgage insurance

If you're a veteran, VA loans require zero down, which is awesome for homes in Indian Land or Weddington. USDA loans also offer zero down for eligible rural areas, though most of our Charlotte metro doesn't qualify. Closing costs are the sneaky expense that catches people off guard. Budget 2-5% of the purchase price for closing costs. On that $400K Marvin home, you're looking at $8K-20K in closing costs. This includes loan origination fees, appraisal ($500-800), home inspection ($400-600), title insurance, attorney fees, prepaid taxes and insurance, and a bunch of other stuff

Your lender will give you a detailed estimate, but always budget on the higher end. Don't forget about immediate move-in costs. You'll need homeowners insurance before closing, plus utility deposits, moving expenses, and probably some immediate purchases for your new Pineville or Fort Mill home. I always tell buyers to have an extra $3K-5K cushion for these unexpected expenses. So for that $400K house, you might need anywhere from $25K-105K total depending on your loan type and down payment choice. The key is knowing these numbers upfront so there are no surprises when you find your dream home in Waxhaw.