Home Buyer Tip Start saving early There are three main costs to consider when first buying a home: 1. Down payment cost: A down payment requirement will depend on which type of mortgage you choose as well as the lender. There are several conventional loans that are aimed at first-time home buyers which offer excellent credit (some as little as 3% down). A great first step is to use a down payment calculator to decide a goal, and from there you can set up automatic transfers from your checking to savings account to start building towards your goal. 2. Closing costs: These are the fees and expenses you have to pay to finalize your mortgage – typically ranging from 2% to 5% of the loan amount. A few ways you can save on these costs are by asking the seller to pay a portion of these closing costs, and shopping around to find companies you can afford for elements required moving forward such as home inspections. 3. Move-in expenses: Upon moving into your home, the expenses continue continue coming so you have to plan ahead for these as well. Thats why its important to set aside extra cash so you can afford things such as immediate home repairs, and desired upgrades and furnishings. These 3 are just a few of the major expenses involved in buying a home which is why it is so important to start saving early! : TheBalance.com #instarealtor #homebuyertip #tip2 #staytuned #jp #jamaicaplain #jamaicaplainrentalsandsales #realtor #homebuyer #newhome $realestate