Asked by jokermuss2323, Exton, PA • Mon Jul 9, 2012
My family and I have recently relocated to West Chester and are looking to buy a home. I have raised my credit score almost 100pts in 3 months to 640, yes it was terribly low. I expect it will continue to increase with the attention I am paying to it.
My annual salary is $101k, my wife does not work, we have monthly debts of around $1k. And savings of about $2k.
I am eligible for a VA loan and my company has a nice relocation benefit and will reimburse for the following fees: Legal Fees, Credit Report Fee, Mortgage Application Fee, Mortgage Appraisal Fee, Survey Fee and Title Search Fee, Title Insurance, Recording and Transfer Tax Feesand Notary Fees.
So I ask you folks to help me establish what my savings goal should be (I know the higher the better, but...). We are looking to find a single family home in the West Chester area, price of $300k - $350k. Provided my credit score is in the 680 range, what is the bare minimum I need have in savings?
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