Top 5 Reasons Why You Should Be Saving For A Home Down Payment
You’ve heard it at the first mention of wanting to buy a house- “You better be saving for a down payment.” Without adding to the choir, here are five reasons why you should be doing it.
1) No down payment = No house. You can’t buy a home without a down payment.
2) Bigger is better. A bigger down payment means either a lower monthly mortgage payment or the ability to afford a larger purchase price.
3) Double your money. Match your first $750 in savings if you get your mortgage from our partner Quicken Loans –that’s $750 in free money!
4) Double your money again. Match your savings again, this time up to $1,500, if you buy with one of our partner real estate agents. The total free money is based on the final purchase price.
5) Your parents will be proud. Show them you’re responsibly saving toward your goal of a new house and maybe they’ll match your savings too!