It's no shocker that buying a home is a huge expense - which is why we are interested in ways to cut costs! On this episode we talk both buying and refinancing our homes and ways to save on both.

Sponsors:

• Whether you’re new to budgeting or trying to reach a big financial goal and need something to motivate you, you’ll enjoy The Frugal Friends Workbook. It’s a digital workbook with 6 week-long challenges that will help you save money, simplify your life, improve money conversations, and more. It’s over 60 pages and can be completed on your own but it’s created to be gone through in pairs or small groups that’s why every purchase comes with two downloads so you can share or split the cost. Head to Frugalfriendspodcast.com/workbook • to learn more and use the code TACOBELL all one word to get $10 off the regular price.The Frugal Friends Workbook! • Well we have a complicated sponsor today - but it’s quite fitting as we discuss home buying. Take stamps for example - what one would think costs 55cents and be used to mail a letter, when it comes to home buying this is nowhere near what the word ‘stamps’ mean! No no no - ‘stamps’ are hundreds of dollars, you never actually see them, nothing gets mailed anywhere as a result, but they are apparently necessary and there’s no circumventing them. High price tags on what should be low cost items: it’s all part of the home buying magic.Very High Price Tags on Seemingly Insignificant, low cost items:

Notable Notes:

What the Internet has to say:

This article from The Lenders Network lists off 7 ways to cut costs when buying a house

What Jen + Jill have to say:

• 1. Use an experienced LOCAL real estate agent • 2. Get loan quotes from multiple lenders • 4. Increase your credit score • 5. Find a house that needs some work • 6. Get the right type of mortgage loan • 7. Purchase a home in the winter

More from the Internet:

This article from Mortgage Loan provides 6 ways to save when refinancing your mortgage

More from Jen + Jill:

• Pay closing costs and points up front • Don’t take cash out - this type of refinance is more expensive • Improve credit score • Shop around • Have history with your lender - you can stick with them! • Prepare for an appraisal (make sure everything is in working order!)

BILL OF THE WEEK - Thank you Louisa for sharing your transportation bill - not buying gas for 44 DAYS!!! Congrats!

frugalfriendspodcast.com/bill • If you want to submit your bill of the week visit to leave us a bill

Lightning Round

Other ways to save

• Jen- home insurance: shop around, check for rates reductions that the home qualifies for or on work that needs to be done soon. • Jill- calculate if you save more by not putting 20% down. PMI usually costs .5% to 1% of loan. Factor in cost of renting, etc. • Jen- Monetize your home - rent out the guest room on Airbnb • Jill- consider purchasing in a lower cost of living area

Wrap-Up:

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