How much cash do I need to buy a home?

"How much cash do I need?" is one of the most common questions Kathleen hears from first-time buyers — and the answer in New Jersey is almost always more than they expect. This episode maps out every dollar you'll need at the ready: the earnest money deposit (typically 1–2% in Bergen County), the home inspection fee, any remaining down payment funds, and closing costs that you cannot roll into the mortgage.

Kathleen also covers the distinction between "sourced and seasoned" funds — what lenders require to verify your down payment — and the common mistakes buyers make with large cash deposits in the months before applying. Gift funds, 401(k) loans, and down payment assistance programs each have their own documentation requirements.

By the end you'll have a clear cash-needs timeline from offer to closing day, so you can plan your accounts accordingly.