Money-Saving Home-Buying Tips

If you’re looking to buy a home this spring, 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.