How to Save for a House

To save for a house, first determine an affordable price range. Set a specific savings goal, starting with the down payment. Common mortgages include conventional loans (down payment as low as 3%), FHA loans (3.5% down), VA loans (no down payment for eligible borrowers), USDA loans (no down payment for rural areas), and jumbo loans (starting at 10% down). Budget for closing costs (2-6% of loan amount) and other expenses. Calculate your total savings goal based on these expenses.