Money-Saving Home-Buying Tips
March 28, 2021 | Exodus Realty
If you’re looking to buy a home this spring, daveramsay.com offers some money-saving advice to help you make financially prudent decisions:
- Set a budget and stick to it.
- Ideally, your monthly house payment should be no more than 25% of your monthly take home pay.
- Save at least a 10-20% down payment. Anything less than 10% may bring a lot of extra fees with it.
- Consider a 15-year fixed-rate mortgage. Although a 30-year mortgage typically makes your monthly payments lower, the shorter-term mortgage will likely cost you less in the long run.
Check out check Dave Ramsey’s Ramsey Solutions for more money-saving home-buying suggestions.