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Financial Freedom: Rule #3

Homeownership:

The 20% rule You should put at least 20% down when buying a home, according to this rule. Why it works: It ensures you don’t buy more home than you can afford, it can lower your monthly mortgage cost, and it can increase your chances of being approved for a loan. You also won’t have to pay private mortgage insurance. When it doesn’t: While this is pretty traditional advice that’s a safe bet, opinions vary. Some consider it an overwhelming amount to save. Some argue that, while a home is an asset, you shouldn’t give up your liquidity, or savings. Of course, there are counterarguments to be made, but the point is: some consider the rule unrealistic. =============================== Please consider: Subscribing Like Comment Thanks for Reading!

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