Part 3 of 6
Must-Know Tips for Navigating the Housing Market
Boose Your Savings
After you have determined your monthly payment goals and target purchase price, make sure you have the cash on hand for when you are ready to buy.
We suggest saving enough money for six months of mortgage payments, as well as the minimum of 3.5 percent of the purchase price to cover the down payment and closing costs.
First - time and repeat homebuyers should also establish reserves for less visible expenses, such as closing costs, moving costs, home repairs, renovations and planned upgrades when saving for a home.
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