How much cash do I need to buy a $350K home in 76179?

With 5% down ($17,500), add $10K-$21K in closing costs and prepaids minus earnest money (~$3,500 applied toward down payment). Total cash to close typically runs $24K-$35K. VA or USDA buyers can get there significantly cheaper if they qualify.

Can the seller pay my closing costs in 76179?

Yes. Seller concessions toward closing costs are common in the current 76179 market. Limits depend on loan type: for conventional loans on a home you will live in, 3% of the price with less than 10% down, 6% with 10% to under 25% down, and 9% with 25% or more down (Fannie Mae Selling Guide); up to 6% for FHA; no cap on standard closing costs for VA. Ask your agent to structure the offer to include a seller credit if cash-to-close is your constraint.

What is the option fee in Texas and do I lose it if I cancel?

The option fee is a Texas-specific fee paid to the seller for the right to terminate for any reason during the option period. Often $100-$500, negotiated between buyer and seller. It is delivered to the escrow agent and released to the seller, and it is credited to the sales price if you close. If you cancel during the option period, you do not get the option fee back. Your earnest money is refunded. If you cancel after the option period, you risk losing earnest money too.

Are there first-time buyer programs that help with costs in Tarrant County?

Yes. TSAHC offers down payment assistance for qualifying buyers, and other state and local programs may also help. Eligibility depends on income, purchase price, and other factors. A local lender familiar with Texas programs is the right starting point, not a national bank's website.

Tarrant County · Owner Guide

What costs should I expect when buying a house in 76179?

By Andrew ChavisUpdated May 24, 20264 min read

The Short Answer

Plan for down payment, closing costs (2-6% of purchase price), upfront inspection and appraisal fees, and prepaid property taxes and insurance. On a $350K home with 5% down, total cash needed can run roughly $24K-$35K, not just the $17,500 down payment alone. Many buyers underestimate it.

Down Payment: Which Structure Fits Your Cash

Conventional: 3%-20%. Five percent is typical for buyers who want to preserve cash without letting PMI dominate the payment. FHA: 3.5%. VA and USDA: zero down for qualifying buyers. On a $350K home, that's $10,500 (3%) to $70,000 (20%). Larger down payment lowers your monthly payment and eliminates PMI above 20%, but trades liquidity for savings. Know your loan type before you set a down payment target.

Closing Costs: The Number Nobody Mentions Upfront

Closing costs run 2-6% of purchase price, due at closing, separate from your down payment. On a $400K home, that's $8K-$24K. Covers: loan origination, title search, title insurance, escrow setup, recording fees, prepaid interest, and discount points if applicable. Seller concessions can cover part of this. It's common in the current 76179 market. Ask your agent what's realistic to negotiate before you assume you're paying all of it yourself.

Upfront Costs During the Contract Period

Earnest money: 1%-2% of purchase price, applied to your down payment at closing. Home inspection: $300-$600 standard, more for sewer scope or specialty items. Appraisal: $300-$500. Option fee (Texas-specific): often $100-$500, negotiated between buyer and seller, for the right to terminate during the option period. All of these are paid before closing. Most are non-refundable if you walk without valid cause. Budget them from day one, not from contract day.

Ongoing Monthly Costs After Closing

PITI: principal, interest, taxes, insurance. As an example, on a $325K home in 76179, property taxes alone can run roughly $550-$650/month, depending on exemptions and which taxing units apply. Homeowners insurance often adds $150-$300 depending on coverage, so get a quote. PMI adds 0.5%-1% of the loan annually on conventional loans below 20% down. HOA fees range from $0 to $500+/month depending on neighborhood. Run all of this before you decide on a purchase price ceiling, not after you're under contract.

Cash-to-Close: What It Actually Looks Like

$250K / FHA 3.5% down: ~$8,750 down + ~$7,500 closing costs minus $2,500 earnest = ~$13,750 to close. $350K / conventional 5%: ~$17,500 down + ~$14,000 closing costs minus $3,500 earnest = ~$28,000. $400K / conventional 10%: ~$40,000 down + ~$16,000 closing costs minus $4,000 earnest = ~$52,000. $450K / VA 0% down: ~$0 down + ~$13,500 closing costs minus $4,500 earnest = ~$9,000. These are estimates. Request a Loan Estimate from your lender early. That's your actual number.

What You Can Negotiate and What Buyers Consistently Underestimate

Negotiable: seller concessions toward closing costs (up to loan-program limits, roughly 3% to 9% depending on loan type and down payment), lender credits in exchange for a slightly higher rate, home warranty paid by seller, repair credits in lieu of seller doing work pre-closing. What buyers underestimate: escrow shortage adjustments in year two as taxes and insurance go up, move-in costs (movers, cleaners, immediate repairs, furniture), and ongoing maintenance. Many owners find total costs higher than expected. A common rule of thumb is to budget $200/month or more beyond your mortgage payment as a maintenance reserve.

Common Questions

How much cash do I need to buy a $350K home in 76179?: With 5% down ($17,500), add $10K-$21K in closing costs and prepaids minus earnest money (~$3,500 applied toward down payment). Total cash to close typically runs $24K-$35K. VA or USDA buyers can get there significantly cheaper if they qualify.
Can the seller pay my closing costs in 76179?: Yes. Seller concessions toward closing costs are common in the current 76179 market. Limits depend on loan type: for conventional loans on a home you will live in, 3% of the price with less than 10% down, 6% with 10% to under 25% down, and 9% with 25% or more down (Fannie Mae Selling Guide); up to 6% for FHA; no cap on standard closing costs for VA. Ask your agent to structure the offer to include a seller credit if cash-to-close is your constraint.
What is the option fee in Texas and do I lose it if I cancel?: The option fee is a Texas-specific fee paid to the seller for the right to terminate for any reason during the option period. Often $100-$500, negotiated between buyer and seller. It is delivered to the escrow agent and released to the seller, and it is credited to the sales price if you close. If you cancel during the option period, you do not get the option fee back. Your earnest money is refunded. If you cancel after the option period, you risk losing earnest money too.
Are there first-time buyer programs that help with costs in Tarrant County?: Yes. TSAHC offers down payment assistance for qualifying buyers, and other state and local programs may also help. Eligibility depends on income, purchase price, and other factors. A local lender familiar with Texas programs is the right starting point, not a national bank's website.