Verkkoinitial costs are the downpayment 3 percent down for fha or conventional plus an average depending on your area another 2 to 7 percent for closing costs. Verkkothis can be difficult if you currently have no savings or are living paycheck to paycheck. It might sound like doom and gloom, but we believe that it’s.

So what exactly is β€˜the rent trap’, and why should one aim to avoid it?.