How much should I save for a down payment?

Twenty percent avoids private mortgage insurance, but many loan programs allow far less — sometimes as little as three to five percent. A larger down payment lowers your monthly payment and total interest; a smaller one gets you in sooner. It is a trade-off worth modeling before you shop.

What credit score do I need to buy a house?

Requirements vary by loan type, but higher scores unlock better rates. Some government-backed programs accept lower scores with trade-offs. Because even a small rate difference adds up over decades, improving your score before applying can be worth the wait.

Should I buy or keep renting?

Buying builds equity and locks in housing costs, but adds maintenance, taxes, and less flexibility. Renting stays flexible and predictable but builds no equity. The right answer depends on how long you will stay, local prices, and your finances — not on a blanket rule.

What closing costs should I expect?

Closing costs typically run a few percent of the purchase price and can include loan origination, appraisal, title insurance, and prepaid taxes and insurance. Lenders must provide an estimate up front, so you can plan for them alongside your down payment.

5 Things to Check Before You Tour a House

HOOK

[Fast cuts: scrolling listings, empty house exterior, buyer looking confused] Thinking of touring homes? Don’t walk into a showing blind. A few quick checks before you go can save you from wasting time on a house that never fit your budget or your lifestyle.

KEY POINT 1

[On-screen: calculator, mortgage app, monthly payment graphic] First, check the full monthly cost — not just the list price. That means estimated mortgage, property taxes, insurance, and HOA dues. A home can look affordable until those extras push it out of reach.

KEY POINT 2

[Map view, commute route, schools, grocery store icons] Second, look at the neighborhood in real time. Drive by at the hour you’d normally commute. Check traffic, noise, parking, and nearby essentials. A great house in the wrong location can become a daily frustration.

KEY POINT 3

[Close-up: roof, windows, HVAC, water heater] Third, scan for the big-ticket systems before you book a tour. If the listing says the roof, HVAC, or water heater are older, that’s a clue to budget for repairs or ask sharper questions at the showing.

KEY POINT 4

[Phone screen: wishlist checklist, family walking through rooms] Finally, compare the home to your must-haves. Is it missing bedroom space, storage, yard size, or a home office? If it fails on the things you can’t change, it’s probably not worth the trip.

CTA

[Home tour notebook, checklist graphic, realtor handing keys] Want to tour smarter? Save this checklist before your next showing, and follow for more practical real estate advice that helps you buy with confidence.

Free Tools & Calculators

Mortgage Payment Calculator

Estimate the monthly principal & interest on a home loan.

Home price

Down payment

Interest rate

% APR

Term

years

Monthly P&I

$1,896.20

Loan amount

$300,000

Total interest

$382,633

Estimates only, for general information — not financial or medical advice.

Savings Growth Calculator

Project what regular deposits could grow to with compound interest.

Starting amount

Monthly deposit

Interest rate

% APY

Years

years

Future balance

$45,666

You put in

$37,000

Interest earned

$8,666

Estimates only, for general information — not financial or medical advice.

Questions & Answers

A common guideline is keeping total housing costs near or below about a third of your gross income, but the honest answer depends on your debts, down payment, rate, and other goals. Our mortgage calculator on this page lets you test payments at different prices and rates so you can find a number you are comfortable with.

This article is for general information only and is not medical advice. Consult a qualified professional before making decisions.