How to save for a down payment

How to save for a downpayment in 3 simple steps:

1. Set up an auto deposit to a savings account

   • Every month have an auto deposit from your checking account to your savings account. It can be any amount!

   • I have an auto deposit set up to a totally different bank. I make it difficult to even access that money so that I don’t even touch it. Do whatever you have to do to save that money!

2. Lower your expenses

   • Stop spending unnecessary money!

   • If you make $1,000/month act like you make $900 If you make 5,000 act like you make 4,000. That $1,000/month is going to add up. Don’t get discouraged when you see the big number for a downpayment. You can do it!

3. Research programs

   • First time home buyers

   • Grant programs - look into what the county offers where you are buying.

   • Work with a great mortgage company

     • Don’t settle - you have plenty of options. 

     • Ask lots of questions. 

     • Ask for a write up of what closing costs are going to look like. Make sure you are comfortable with that dollar amount.