How much money will I need to buy a home?
Most lenders require 3% of the loan value for your down payment. This can vary based on your credit score, income and loan type. Ask your lender about the many programs available for first time homebuyers, veterans and rural residents that help with lowering down payments.
And there is an earnest money deposit given at the time of the initial offer, typically 1-3% of the purchase amount depending on the seller, market and competition. This earnest money is placed or held in escrow by a neutral party on behalf of the buyer and seller until the transaction is complete and is yours to use at closing as long as you do not back out of the agreement for any reason not in the contract. Seller could be entitled to your earnest deposit if you do not follow the contract. But it also protects you by ensuring that the home is taken off the market while buyer and seller work towards closing.
As a buyer you're expected to pay for your home inspection. These can vary depending on the size of the house, types of inspection you choose to do such as water test, radon, lead and septic.
I'm sure you have heard people talk about closing costs. These are costs from your lender and can include appraisal fee, application fee, points on the mortgage, lenders title insurance and origination fees. Each state can vary widely, having a plan ahead of time and knowing your cost up front can help alleviate the stress of unexpected costs.