The down payment - how much is best for you? With the hundreds of lending houses to choose mortgage plans from, mixed with a buyer's real estate market, determining your down payment can be difficult. Factors to consider are: How much can I afford a month?

How will my down payment reduce my monthly payment?

How long will it take to save the money for a down payment?

Take a look at these questions and answer them use monthly mortgage calculators to figure your payments and get yourself in a mortgage that you can afford. If you don't have much money saved and want to make a substantial down payment, this may take awhile. During the saving time keep your eye on the market and its trends. Also take this time to prepare yourself for the home buying process.