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How much savings did you have AFTER buying a house?
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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How much savings did you have AFTER buying a house?
After buying your house, how much did you have left in your savings account?
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Posted 6/15/09 9:18 PM  |
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TheDivineMrsM
2 girls 4 me!
Member since 8/08 7878 total posts
Name:
Mama mama mama....
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Re: How much savings did you have AFTER buying a house?
Not much (FM and I'll give you an exact number). But we were able to add to it and are continuing to do so.
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| Posted 6/16/09 8:49 AM |
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Sparkyandang
LIF Adolescent
Member since 5/08 766 total posts
Name:
Ang
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Re: How much savings did you have AFTER buying a house?
For us, we'll have a good amount left after closing UNTIL we have to buy furniture, a fridge, paint and move, then i'm guessing it will be a lot less.
why is it so darn expensive to live on LI.
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| Posted 6/16/09 9:14 AM |
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Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
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Re: How much savings did you have AFTER buying a house?
i don't know yet....
we've bid on houses that would leave us with almost our entire savings intact (low priced home with 3.5% down) and houses that are more expensive that will leave us with nothing after a 20% dp and closing....so for us it depends on the house price - low price houses we can still have a low mortgage payment, do 3.5% and use our savings for renovations - houses that are more expensive are move in ready but to have a low mortgage we have to go conventional and do 20% down...
if we buy sometime soon we'll have the 8k tax credit to put back in our savings on top of whatever we have left over....
i am hoping for at least 20k in our savings at the end of the day....but it could be a lot more or a little less depending on what happens in our house search...
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| Posted 6/16/09 9:30 AM |
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: How much savings did you have AFTER buying a house?
Thank you everyone! i just wanted to get an idea where me and DH stand.
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| Posted 6/16/09 1:55 PM |
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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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Re: How much savings did you have AFTER buying a house?
we will probably have around $3000, but we will also get the $8000 rebate after we buy the home, and that will go into savings as well.
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| Posted 6/16/09 2:00 PM |
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belladi
LIF Adult
Member since 9/06 1011 total posts
Name:
diana
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Re: How much savings did you have AFTER buying a house?
The bank expects you to have reserves in the bank.. I believe its 6months worth of mortgage payments, if Im not mistaken
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| Posted 6/16/09 2:17 PM |
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