How to Save for A House Down Payment

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Posted On: October 18, 2018 by BANK in: Budget, Budget, Home Buyer, Savings, Savings

If you’re looking to buy a house, having a larger down payment will offer you a lot less financial stress in the long run. However, in order to put a larger sum of money down, you will need to take the right steps to save. Follow these 5 steps and you will be on your way to being a first-time home owner! Step 1: Figure out how much you will need to save - If possible, secure a number or range on the amount you can responsibly spend on a house. You can plan to sit down with a mortgage lender or use an online calculator to help figure out how much you can afford. With the use of a calculator, be sure to remember that it will not take in account every aspect of your financials. Step 2: Find the best ways to save -  After you know an estimated range of how much you need to save, the next step is to figure out what expenses you can cut down - maybe skip vacations for year. The money you would spend on vacation can make a huge contribution toward a down payment. Next, take a

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