Everyone knows how expensive buying a house can be. While the price for a house can vary per location, type of house, and state, it is regardless still expensive. The thought of spending that much on a house is just depressing!

Your first step is to save for a down payment. The more money you are able to pay, greater chances you will be able to negotiate a lower price for your home. Also, you’ll be able to save more on loans.

As you save, continue to remember that you will need extra funds for all of the extra costs, such as closing costs. A excellent guideline is to save about 20% of the value of tee home.

Don’t procrastinate saving, start now; you will be so glad you did! Consider opening a savings account with a high compound interest rate. This way, your money will stay separate from your regular checking account where you could spend it, and it the amount will really grow monthly if you have a excellent interest rate. Add to this saving account monthly, and you will be pleased with the results.  Read more... (322 words, estimated 1:17 mins reading time)

Loan officer Dan Green answers reader questions from Twitter including “What will mortgage rates do after the Fed withdraws support?”, “How do I do a stated income loan?”, and “Are jumbo mortgages coming back?”. Dan is based in Cincinnati, Ohio and blogs at themortgagereports.com. Image courtesy Maitri (http

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Originally posted 2010-02-04 16:36:26. Republished by Blog Post Promoter