How To Save For A Down Payment
Here's how most people get the cash for a real estate down payment, as well as some ideas for other creative way to get ready to buy.
Buying a home can be a very exciting step, especially if you're a first-time homebuyer. There's so much to think about, from getting everything on your must-haves list to finding the right location. It can be a daunting task-one that requires buyers to make a big sacrifice, namely in the form of the down payment. Saving for a down payment for a mortgage is the first major step towards buying a home. It obviously requires the discipline to put aside the money as well as a decision on where to get those funds.
Tap into your savings
Hey, that's what it's there for!
Existing Equity
If you can, take advantage of your current property
Cut Living Expenses
What daily costs could go towards savings instead
Private Loans
Borrow money from family and pay it back without the interest
Gifts
Don't forget to thank the guys
Pull from 401k
This could give you the start you need for a bigger investment
Generate more income
Take freelance work or pick up another job
Cash Out Investments
Legitimate reason to pull from stocks or CD
Government Programs
Loan programs can minimize or eliminate your down payment
🤔Many First Time Homebuyers struggle with how to get the down payment to purchase their first home.
✅ The solution is a Down Payment Grant which has no interest, no payments, and only needs to be paid back when you sell the home, or refinance the home. It is like FREE money!
Learn about the amazing
Home Down Payment Grant Program
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