Saving For A Down Payment? Use These Tips!

Saving for a Down PaymentMake saving for a down payment easier with these tips.

If you’re hoping to buy a home, one of the first things you’ll need to do is save for your down payment. For many would-be homeowners, this is one of the most difficult parts of the home buying process.

We can help! Make saving for a down payment faster and easier on yourself with these clever tips.

  • Move it around. Make it harder for yourself to spend the money you’ve trying to save by moving it to a less accessible account. Simply transferring your money from checking to savings can eliminate the temptation to spend it since you won’t be able to access it with the swipe of a debit card.
  • Double down. If you do make an unexpected purchase, put the same amount you spent towards your down payment. That way you can still make those once-in-a-while impulse buys while still staying on track towards saving, and doubling the “price” of an item will ensure you only buy things you really want.
  • Remind yourself why you’re saving. Saving money can feel like a real drag. Give yourself the motivation you need to power through by reminding yourself what you’re saving for. Put a picture of your future home somewhere it will be visible, put motivational quotes around, or give yourself other visible reminders of what you’re working towards.
  • Focus. Putting weekly—or even daily—savings goals on your calendar can serve as a regular reminder, helping you stay on track.

Once you have the money you need for your down payment, contact Avis Lending. You’ve already done the hard work of setting money aside to buy your home; let us take it from here! With offices in Lahaina, Hawaii and Irvine, California, we’re here to meet all of your West Coast mortgage needs.

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