my savings plan

get your savings number

Your savings number is all the cash you need to buy. It covers your down payment, your closing costs, and the other costs that come up before you get the keys. Answer a few questions and I add it up for you.

Have you or your spouse ever served in the military?

Is the area you are looking in outside a major city?

Where is your credit right now?

You also put down earnest money when your offer is accepted. Plan on about 1% of the price. It goes toward what you owe at closing, so it is already inside your savings number. You need it earlier than the rest.

These are numbers to plan with. They are not a lender quote. I use 2% of the price for closing costs, $500 for the inspection, and $600 for the appraisal. Your lender confirms the real ones.

count what you already have

You may be closer than you think. Count every dollar that could go toward your house, even if it is not in your savings account today.

Count your retirement money. Don't move it yet. Taking it out the wrong way can cost you taxes and penalties. For now you only need to know it is there.

set your monthly amount

Now you split what is left into monthly pieces. Tell me how many months you have and what you save now. I do the math.

open your house account

Your house money needs its own account. You can see it grow, you are less likely to spend it, and your lender can follow it easily when they read your bank statements. Tap each step when it is done.

Your monthly deposits

Tap a circle each month your deposit goes in.