When you calculate how much you will need to purchase a home you will add up the down payment and closing costs. It is also a good idea to leave yourself with some financial cushion to cover the incidental expenses associated with moving.

First, you will have to pay the moving company unless you can find friends with strong backs who will help you. Then many buyers plan to do some work, such as painting, replacing carpet, or refinishing floors. If you are moving into a larger space, you may find yourself making some major furniture purchases within a few months of closing.

A financial cushion is important enough that some lenders require buyers to have an amount in the bank equivalent to two or three months mortgage payments. This is especially true for buyers who are putting less than ten percent down. Your real estate agent can give you guidance. A lot depends on your overall financial situation. If your mortgage is a relatively low percentage of your monthly income, you will be able to rebuild a comfortable amount of savings in a few months.

	See All Tips In The "Financing Your Home" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

ALICE MEDLOCK
MEDLOCK & WEST REALTY, LLC
906 MAIN STREET
VAN BUREN, AR 72956
479-651-7221
Fax: 479-474-0294
Email: realestatearkansas@NUMBER1EXPERT.com

Alice Medlock has been ranked in the top 2% of agents, worldwide, of the National franchise company she was associated with for seven years. Now the Principal Broker and partner of MEDLOCK & WEST REALTY she offers the same EXCELLENCE and personal service to every buyer and seller. Her company's slogan "WITHOUT YOU, WE WOULDN'T BE HERE" says it all! Her knowledge of the area combined with her dedication to her clients and utilization of every technological tool available to the Real Estate industry, makes buying or selling a home so easy.