Saving Money After You Buy a Home, Starts With Your New Home

When you have mortgage payments, savings becomes more important than ever. You can't control the weather or how other people drive. Accidents happen, trees fall, pipes burst, appliances break. Homeowners insurance doesn't cover everything. No matter what the uncertainty of the world throws your way, you'll still have to make your mortgage payments. If you don't, you lose your house, your equity, and everything you put into it to make your house a home.

Here are three ways new homeowners can save money: 

1. Invest

What is Rent to Own for you as a tenant?

Purchasing a home is no different from buying a car.  You need money to do that.  While not many people have 450,000 dollars cash to buy the home right out, most people go to a bank and borrow 80% of the total purchase price and put down 20% cash from their savings.  It is a good business for the bank.  Ever wonder why they prefer you to put down 20+ %?  It is because if anything goes wrong with your home (aka their investment), they still have 20% of room for error and losses.  Because of their conservative investment approach, they only lend money to people with fair or better credits.  T