@Sherwin Bahai the policy cost will be higher when it is a vacant policy with a builders risk policy as compared to a traditional homeowners policy.

A bigger house will be higher, but that is a great starting point.

Or we'll have had a correction, and prices will fall, but probably from something higher than where they are today and will stabilize somewhere around today's prices.  

Nick, You're probably looking for a Non-QM bank statement loan; the interest is slightly higher but will get you into the house.

So if you don't already know about buying real estate then you're trying to learn while using an account with additional rules you need to follow.You can buy with 'non-recourse financing' but the DP and interest are higher, so you need to understand and account for that in planning your purchase.

The rate is typically higher than a normal P&I loan.

Also your payments will be higher as you are borrowing up to 95% of the value of the home. 

I am a Realtor in Madison, WI and so far as stated earlier, other than an offer of compensation no longer being listed in the MLS, not a lot has changed as far as sellers typically being agreeable to pay buyers agents at closing a buyer agency commission, and sellers just viewing that as a closing cost and focus on reaching a net proceed number they are happy with (if competing, one buyer may ask you to pay their buyer agent fee, but at a higher price where you could still net more than a lower priced Offer). 

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Some people like to live at a higher standard of living than others .