If you want to include closing costs of 5% with your down payment, how much additional money must you save per month??

5% more

To determine how much additional money you need to save per month for closing costs, you'll need to follow these steps:

Step 1: Determine the total closing costs
Calculate 5% of the purchase price of the property. For example, if the purchase price is $200,000, the closing costs would be $200,000 x 0.05 = $10,000.

Step 2: Decide on a timeframe
Decide on the timeframe within which you want to save for the closing costs. Let's say you want to save for it over a one-year period (12 months).

Step 3: Divide total closing costs by the number of months
Divide the total closing costs by the number of months you have chosen to save. In this case, it would be $10,000 / 12 = $833.33.

Therefore, if you want to include closing costs of 5% with your down payment, you would need to save an additional $833.33 per month over a one-year period.