How much money will I need with a USDA Loan?

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I was pre-aproved for a $120,000 USDA Loan. I know that it is no money down. But how much money would I need for everything else to get me into a house?
I don’t understand why 0% down is such a bad thing.

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2 comments to How much money will I need with a USDA Loan?

  • PenelopeM  says:

    I wasn’t aware that the Department of Agriculture was making loans to buy homes. Do you possibly mean FHA (Federal Housing Administration)?

  • Go with the flow  says:

    Yup, USDA does provide these nasty 0% down loans for rural areas.
    You have to have closing costs, and some insurance and taxes to pay upfront.
    A bank will also want to see a couple of months worth of income left over in savings.

    There are many out there that believe these need to become illegal today!
    0% down on a home is never a good idea. Never.

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