Pennsylvania First-Time Homebuyer Calculator
First-time homebuyer costs in Pennsylvania: $9,275 FHA down payment, $8,480 closing costs, 1.58% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Pennsylvania. Includes down payment, closing costs (3.2%), PMI (required below 20% down), property tax (1.58%), and homeowners insurance ($1,380/yr). Note: Pennsylvania requires an attorney at closing. DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Pennsylvania homebuyer facts: Median price $265,000 | 20% down = $53,000 | FHA 3.5% down = $9,275 | Closing costs ~$8,480 | Property tax 1.58% | Attorney required at closing.
Frequently Asked Questions
How much do I need to buy a house in Pennsylvania?
For Pennsylvania's median home ($265,000): FHA minimum down payment is $9,275 (3.5%), plus $8,480 in closing costs. Total minimum: ~$17,755. With 20% down to avoid PMI: ~$61,480.
What are closing costs in Pennsylvania?
Pennsylvania closing costs average 3.2% of the home price, or about $8,480 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and required attorney fees. Transfer taxes are 1%.
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