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6 Tips for First Time Home Buyers
Now that summer is upon us, many of us will start searching for a new home.
For some buyers, it may be the first time.
Here are my tips for first-time home buyers.
- Putting 20% down avoids private mortgage insurance
- Don’t use all your savings on a down payment
- Have 3 to 6 months of net pay saved for emergencies
- Remember maintenance, utilities, taxes and insurance costs
- Consider what percentage of your pay you want to go toward house payments
- Consider life changes like a potential job and relocation before purchasing