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Accumulating the Down Payment

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Jeremy went house hunting and soon fell in love with a home. Unfortunately, after he found his dream home, he soon discovered all the loan-documentation requirements and the extra fees and penalties he would have to pay for having a small down payment. Ultimately, he couldn’t afford to buy the home that he desired because he hadn’t saved enough. “If I had known, I would have started saving much sooner — I thought that saving for the future was something you did when you turned middle-aged,” he told Eric.

We don’t want you to be surprised when you finally set out to purchase a home. That’s why now, in the comfort of your rental, commuter train, or bus (or anywhere else you may be reading this book), we’d like you to consider the following:

 How much money you should save for the down payment and closing costs for the purchase of your home

 Where your down-payment money is going to come from

 How you should invest this money while you’re awaiting the purchase and closing

Home Buying Kit For Dummies

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