Tips on Saving for
SET A REALISTIC GOAL
The first step to buying a home is determining an affordable down
payment amount. Researching home prices and creating a budget can
help you narrow down which homes are in your budget. A home loan
specialist will be able to help estimate the down payment amount
needed once you choose the right home for your family.
SET UP A SAVINGS PLAN
Whether you collect change in a jar or manually
set aside a portion of each paycheck, setting up a
regular savings plan is a good way to grow a
down payment.
USE YOUR FUTURE
HOME AS INCENTIVE
Reaching your goal can be hard work, but
keep in mind that it will all be worth it on
move-in day. Posting a photo of your dream
home in a high-traffic area like on your
refrigerator or as a screen saver on your
mobile phone so you see it multiple times a
day can help you keep your eye on the prize
and persevere.
EVALUATE CURRENT SPENDING
The best way to save money is to cut unnecessary costs. Make a prioritized
list of your current monthly spending habits and cut back or eliminate
unnecessary expenses, such as eating out or unused memberships that
require a monthly payment.
11 VMFHomeLoan.com
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