a Down Payment
RESEARCH VARIOUS
FINANCE PROGRAMS
FOR ASSISTANCE
The Federal Housing Administration
support loan programs in every state that
are designed for first-time homebuyers and
those with low to moderate-income. These
programs require some type of homebuyer
contribution, but they’re worth considering.
Information about government down
payment assistance programs can be
found on the HUD website:
https://portal.hud.gov/hudportal/HUD?s
rc=/buying/loans.
USE YOUR TAX REFUND
If you’re getting a tax refund and considering
buying a home, you may want to use the
money toward a down payment. You can
create a down payment fund by setting up a
separate saving account. The more you put
down, the less you must borrow.
EARN EXTRA INCOME
This is not always an option for everyone,
but working overtime or picking up a
part-time job can provide extra money to
put toward a down payment.
CELEBRATE YOUR
ACHIEVEMENTS
The path to meeting your savings goal can
seem daunting and impossible. Avoid getting
discouraged by breaking your goal into
several smaller goals. Each time you meet a
small goal, reward yourself! For example, if
your end goal is $15,000, for every $2,500
you save, treat yourself to dinner and a movie.
You’ve earned it!
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