My recent home purchase

This is me holding up a check I received from Mehrnush, the closing attorney at Ganek, a reputable real estate attorney firm in Georgia. This was at closing. Why did I get money back when most people pay money at closing? That is because I had sent $2000 in earnest money after we had the home under contract. I only owed $804.47 at closing since I didn’t have to pay any down payment and the seller paid for all of the closing costs except for the $804.47. As I mentioned, there was no down payment. There are many numbers but to break it down, this is how much I saved.

Year 1 - $344.64/month vs FHA
Year 2 - $156.55/month vs FHA

Year 1 - $275.96/month vs Conventional
Year 2 - $87.87/month vs Conventional

Of course, I paid only a bit over $800 at closing, compared to just under $10,000 for FHA and $14,000 for conventional, not to mention and additional $8000+ in closing costs! Lower upfront costs and less monthly payment! Every situation is different but this one turned out great. Another bonus was that the home came all furnished!!! Yay!