When it comes to buying homes, the larger the down payment you’re able to plunk down the better. Finance experts advise you to aim for saving up at least 20 percent of the total purchase price, and the number isn’t arbitrary. There are very real benefits to making a hefty initial payment.
First-time homebuyers looking to snag the up to $8,000 income tax credit that expires today could get a reprieve. If you already signed the purchase contract by April 30th but haven’t closed yet, you will have 3-months to seal the deal, if a bill passed by Congress yesterday makes it through the Senate, which it seems it will.