Tagged : down payment

Found 2 blog entries tagged as "down payment".

The idea that you should put 20% down on a home is one that has been the "gold standard" for years. After all, when you put 20% down, you avoid paying for private mortgage insurance, and you'll have a smaller loan amount with lower monthly payments. It's something that could save you a lot of money in the long run—but there's also a catch.

Not everyone can easily afford 20%, especially with home prices having risen at a record pace over the last few years. So, what should potential buyers do? Let's explore the pros and cons of putting 20% down on your next home purchase.

The Financial Benefits of Putting 20% Down

Let's start by talking about the financial benefits of putting 20% down. In most cases, if you can afford it, it makes good

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Many homebuyers across the U.S. wonder how to save for a down payment with a tight budget. With rent rates climbing, inflation rising, and house prices still high, saving money for a down payment has become more tricky.

The good news is that you can use several tips and tricks to save money and cut expenses. Let's explore some ways you can save money for a down payment.

Commit To Cut Unnecessary Spending

Cutting out on unnecessary spending can help your savings grow. Even though cutting out on extra spending is unpleasant, it can help you save money for the down payment. We're going to list down some places you can consider cutting:

  • Spend less on take-out. Even coffees or too many ice cream runs add up quickly.
  • Skip the vacation
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