
If you're planning to use a mortgage to finance the purchase of your home, it's essential to have enough money in savings for your down payment. Depending on the type of mortgage you choose, you'll typically need anywhere from 3.5 to 20 percent of the home's purchase price.
Our real estate agents recommend creating a plan to help you save the money for your down payment. Start by opening a savings account specifically for your down payment and follow these tips.