How to Save for a House

June 15, 2020

 

Buying a home has been a part of the American dream to so many. It’s easy to assume this dream may be unattainable since it is an expensive venture but it’s possible. We would like to help you get a financial plan in place to get started so you can live out your dream of being a homeowner!

 

First step is calculating how much money it is going to take to buy the home you want. To get an estimate use our free mortgage calculator, Tabor Mortgage Calculator  to figure out monthly payments, income needed, and more. Make sure to calculate your income, your debt, and other financial obligations you may have. It is important to make a realistic budget so you can save up for the home you love.

 

Keep in mind that you will need some money up-front when purchasing your dream home so it is important to factor this in your budget as well. Home inspections, appraisal, and earnest money are all examples of up-front costs that a homebuyer is likely to have.This is where it would be beneficial to call and talk with one of our loan officers here at Tabor Mortgage Group about your mortgage options. Each program requires a different amount for a down payment and we even offer zero-down mortgage loans. 

 

Last thing to consider is how long it will take you to save up for the home you would like to buy. 

Create a realistic timeline for yourself and stick with it so you can accomplish the American dream of being a homeowner!

 

Please give us a call whenever you are ready or if you have any questions along the way!