12/29/2023
What You Need To Know About Saving for a Home in 2024
If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be.
Here are just a few things experts say you should be thinking about.
1. Down Payment
Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need? While every buyer’s situation is different, there’s a common misconception that putting 20% of the purchase price down is required.
To understand your options, partner with trusted real estate professionals to go over the various loan types, down payment assistance programs, and what each one requires.
2. Closing Costs
Bankrate explains: “Closing costs are the fees you pay when finalizing a real estate transaction, whether you’re refinancing a mortgage or buying a new home. These costs can amount to 2 to 5 percent of the...
If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be.