So what's the deal with down payments? Some programs allow you to put down as little as 3%, but if you put down 20% or more, you'll likely pay lower fees and avoid the additional cost of mortgage insurance. Keep in mind even 5% down on a $200,000 house is $10,000 and your expenses don't stop there. You'll want to set aside something aside for various moving expenses and things like new furniture, paint, or decor--all those little touches that will make your new house a home. Setting aside tax refunds, work bonuses or setting up an automatic saving plan are great ways to help you save for that down payment and your new home!
Home Buying Tip: Save for a Down Payment and Moving Expenses
