49. How Much Should You Have Saved Before You Start Looking to Buy Your First Home?

Most first-time buyers think the minimum down payment is all they need saved before they start touring homes… but that's only half the number. In this episode, I'm breaking down exactly how much you need for your down payment, your closing costs, and the buffer you'll want after closing, using real dollar examples so you know your actual savings target before you start house hunting.

Ready to take the first step of finding your first home? Connect with a FAME agent in your area (it's free!)

WHAT YOU'LL LEARN TODAY:

Why 3% down doesn't mean you only need 3% of the purchase price saved to start looking

The real dollar breakdown of down payment plus closing costs on a $400,000 home

When a seller assist can let you finance closing costs instead of paying them upfront, and when it won't fly in a competitive market

Why a lower down payment means a higher monthly payment (and how that affects what you can actually afford)

How much to set aside after closing for repairs, updates, and a real emergency fund

The one question to answer before you ever calculate a down payment: what monthly payment you're actually comfortable with

RESOURCES MENTIONED:

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