FAQ: How Much Do I Need to Save

How Much Do You Need to Buy?

A Realistic Savings Guide for Colorado Home Buyers

How much do you need to save before buying a Colorado home?

The answer varies significantly depending on loan type, purchase price, and your situation. Steve Charlett walks every client through the full picture from the start.

Here's a general framework Steve uses:

💵 Conventional Loan (10–20% down on a $700K home):

Down payment: $70,000–$140,000 Closing costs: $14,000–$28,000 Reserves recommended: 2–3 months of mortgage payments

💵 FHA Loan (3.5% down for qualifying buyers):

Down payment: ~$24,500 on a $700K home Closing costs: $14,000–$28,000

💵 Physician Loan (0–5% down for qualifying healthcare professionals):

Down payment: $0–$35,000 on a $700K home Closing costs: $14,000–$28,000

💵 VA Loan (0% down for qualifying veterans):

Down payment: $0 Closing costs: $14,000–$28,000, some potentially seller-paid These are illustrative figures. Every situation is different. Steve's first step is connecting clients with a trusted lender — which he can facilitate immediately.

Steve Charlett | Colorado Home Buying Specialist Doctor Relocation | RE/MAX Professionals

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