Down Payment Savings Tips

Down Payment Savings Tips

When you decide to purchase a home, you will need to have money set aside for a down payment. A down payment is an up-front partial payment on a home. At Fairway Bozeman, our mortgage planners will analyze your finances and help you determine how much home you can afford and the amount of money you should put down.

If you are creating a budget with the goal of saving up to purchase a home, here are some tips worth considering:

  1. Open a savings account and set up an auto-transfer that puts a portion of your paycheck into that account.
  2. Save raises, bonuses, tax refunds and monetary gifts.
  3. Use a budgeting app such as Mintor PocketGuardto track your progress as you try to save money.

At Fairway Bozeman, we want to show you that buying a house can be a fantastic experience. Interested in moving to Bozeman or making a home purchase? We are here to help you! Call us to set up a time when we can review your finances and goals to determine the best home loan program for your needs.

Schedule an appointment today!

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