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Minimum Down Payment for First-Time Homebuyers

Someone once asked me: With the way the economy has taken a toll on savings accounts, the traditional 20% down payment seems out of reach for many first-time home buyers like myself. Are more first-timers going the route of 5%-15% down payments? Or should I wait until I've got the 20% saved?

I can answer your question in two ways because you're asking two separate questions.

Getting Your Ducks in a Row When Buying Your First Home

Believe it or not, many a homebuyer who may have saved up meticulously for years for the down payment on a house can end up flat-footed after the close of escrow. Why? Because often they have not thought about the expenses of homeownership that have nothing to do with their monthly mortgage payment.

Preparing Your Pup For The Move

They say that moving to a new place is one of life’s most stressful events. It’s no less stressful for your pooch, who is suddenly immersed not only in new surroundings, but new smells, a new yard, and a neighborhood of new people and pets. Just because you can chill out with a glass of wine after a day of unpacking or working at a new job doesn’t mean your furry friend has those skills.