Question for the Money Doctors
Question submitted on Mar 11, 2019.
QuestionDear Sir or Madam, I'm in need of some advice. I'm currently living in an apartment but I would really like to start saving up for a house. I don't make very much money right now. What are some things I can do to get started? Thank you for your attention
Let's take a look at your budget and set aside at least 10% of your income towards a down payment of a house.
Take a look at your credit situation and see if it needs to be improved.
Go to your local bank or credit union and see how much of a loan you can qualify. This gives you an idea of what price range to shop for.
You might not be able to buy a house today, but you can if you work towards that goal.
Work on saving at least 20% for the down payment of the home.
Please read the articles on the 360 Degrees of Financial Literacy to learn more about credit and the home buying goal.
For additional information visit http://www.360financialliteracy.org/