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Updated almost 9 years ago on . Most recent reply

Eric Hernandez's profile image
Eric Hernandez's profile image
Eric Hernandez
  • from Knoxville, Tennessee
  • Member since Oct 26, 2016

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Eric Hernandez's profile image
Eric Hernandez's profile image
Eric Hernandez
  • from Knoxville, Tennessee
  • Member since Oct 26, 2016
Eric Hernandez
  • Knoxville, TN
2
Votes |
5
Posts
Knoxville Real Estate Forum

How much should I save for my first property?

Eric Hernandez
  • Knoxville, TN
Posted
Hi everyone, So I am looking to buy my first rental property sometime next year in Knoxville TN. I have been saving up money, but I'm not sure how much is enough for my first buy. If I were looking to buy a house that cost around 100k via FHA loan, how much money should I have set aside? Thanks, Eric
Knoxville, Tennessee
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Ruth Bayang's profile image
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Ruth Bayang
  • Investor
  • from Kent, WA
  • Member since Feb 23, 2015

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Ruth Bayang's profile image
Ruth Bayang's profile image
Ruth Bayang
  • Investor
  • from Kent, WA
  • Member since Feb 23, 2015
Ruth Bayang
  • Investor
  • Kent, WA
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Ruth Bayang
  • Investor
  • Kent, WA
Replied

It depends. Will you live in it? If so, then 3.5% down.
If not, then be prepared to put down up to 30%.

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