Your total savings goal is typically split into three primary categories:
: Lenders often require proof of "reserves"—cash available to cover mortgage payments in an emergency. This safety net also handles immediate post-move needs like repairs, furniture, or utility deposits. Strategic Savings Rules how much money should i save before buying a house
: These upfront fees cover loan origination, appraisals, inspections, and title insurance. For a $400,000 home, expect to pay between $8,000 and $20,000 at closing. Your total savings goal is typically split into