You need to have your ducks in a row to buy a house, which usually means you need some savings for the down payment. Many people stop saving after they buy, but saving money should be a lifelong process or a practice that lasts up to retirement. You don’t necessarily need savings immediately after purchasing a home. How much you should have in savings or whether you have any savings at all depends on your overall financial picture.
How to Buy a House With Bad Credit & No Down Payment
Your home is likely your biggest investment, so knowing exactly what you’re paying for it is just common sense. But when people map out the life of their mortgage and the total cost — even factoring the best mortgage rate, they often fail to consider the copious tax benefits they will receive.
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