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How to Save for a Home Down Payment
Posted by Michael Perna on
Saving for a down payment is one of the first steps to buying a house, and most home buyers spend years saving enough money. For those who are renting their home, saving for a first down payment can sound intimidating. Luckily, the following ways can make the process easier and less stressful overall.
For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.
Know How Much to Save for a Down Payment
In order to effectively save for a down payment, people should start by determining how much money they will need to save. This information can help them determine how much money they will need to set aside on a weekly, monthly, or quarterly basis.
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