how much savings should i use on a downpayment?

Answer 1

You should keep at least a months pay in savings. especially with buying a house. keep in mind, all the IFS-what happens if:you get laid off from work, hurt yourself, etc. what if the house needs emergency repairs, etc. anyway, don't drain your savings and expect to build them back up after you have a new mortgage payment, it wont happen as quickly. keep at least one month salary in reserve, and use the rest for a down payment. a big downpayment will save you a lot in interest in the long run

Answer 2

Depends on how much you have saved.....need more ifo on the house you are buying as well