save up for first home purchase

Are you thinking about buying your very first home? If so, it must be an exciting time for you! Be cautious though. Once you start looking for your perfect home, it can be easy to fall in love with something that is out of your price range and does not allow you to put 20% down. Before you even start looking, it would be wise for you to decide on the absolute maximum amount that you would like to spend and save aggressively to bank 20% of that target in cash. Not only will this make it easy for you to qualify for a loan at the bank, but it will also give you peace of mind after the home purchase. With 20% down, you won't need to worry about the home losing value and leaving you under water. With that much of a cushion, you will likely always have equity in your home. [Read more…] about How to Save For Your First Home Purchase