Buying a home is a huge financial decision, and it has become more important than ever to form a strategy around saving for a home. Budgeting can go a long way towards saving for a downpayment, which may allow you to skip the private mortgage insurance. Reducing your debt can improve your debt-to-income ratio, which can qualify you for a lower mortgage rate. There are plenty of ways to save when buying a home, and each person’s situation is unique. Be sure to make a plan with your lender and prepare as much as possible in advance.
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