Universal Solvent Definition. A universal solvent is a substance that dissolves most chemicals. Water is called the universal solvent because it dissolves more substances than any other solvent. However, no solvent, including water, dissolves every chemical. Typically, like dissolves like..
Average closing costs on a mortgage loan is between 2%-5%. On a home with a purchase price of $200,000 the typical costs will be between $3,000-$5,000. These costs will vary depending on the lender you use. Closing costs are made up of several different fees charged by your lender. These fees include credit report, loan origination fee, survey, etc.
And then there are closing costs. Those two costs will equal the total cash needed to close. Closing costs are roughly 2-2.25% of the purchase price. So if youâre looking at a home for $500,000, plan on closing costs to be around $10,000.How much down payment is needed will vary, depending on the loan program.Down Payment Requirements for Loans.How much cash you will need to purchase a house is dependent on the loan program, purchase price range and certainly your market area.1  Conventional financing â Needs a minimum down payment of 5% (varies on maximum loan size in your area).ow much cash you will need to purchase a house is dependent on the loan program, purchase price range and certainly your market area. 1  Conventional financing â Needs a minimum down payment of 5% (varies on maximum loan size in your area).