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  • Down Payment Saving Tips

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    Money Saving Action Plan

    Saving for a down payment on a home can be stressful.  Whether you are looking to save for a conventional loan with 20% down or you are qualified for one of Fairways awesome down payment assistance programs, saving any substantial amount of money can be difficult while maintaining your other bills.  Check out these 7 imple ways to help you save:

    1. Saving on other expenses- looking into ways to lower other payments can be helpful. (lower car insurance rates, lowering your cable package, budgeting your weekly food spend etc).
    2. Loan Programs- do your homework.  You may qualify for some of the fantastic programs that your state offers to you.  Remember it is important to find a great lender …hint hint Fairway/PotempaTeam
    3. Out with the old-  why not make some extra cash by getting rid of some old junk.  Garage sales can help you make extra cash fast.
    4. Monitor your spending online-  this could also pertain to shopping in general.  Set boundaries and budgets for yourself.
    5. Side work-  if you have the time, look into picking up a part time job.
    6. Refinancing- as mentioned above you can lower payments on things like your car, insurance etc by refinancing.
    7. Keep track of how you are saving.  Just because you have a plan doesn’t mean it will always come into fruition.  Make sure to stay on track and follow up on what you are doing daily or weekly.

    Read more here about saving money on your down payment….

    Saving isn’t easy especially when it comes to purchasing a home.  Make sure you speak with both your agent and lender about your options.  Contact me today for more info on your next home purchase.

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