Want to buy a house? How to save for the down payment and closing costs

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Fri, May 23, 2025

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Want to buy a house? How to save for the down payment and closing costs

^{Published on 2025-05-23 13:09:40 - Fortune}

The type of home loan you choose affects the minimum down payment you'll have to come up with.

The article from Fortune provides a comprehensive guide on saving money to buy a house, emphasizing the importance of setting a clear savings goal based on the desired home price and down payment. It suggests creating a budget to track and reduce expenses, and increasing income through side gigs or selling unused items. The article also recommends automating savings by setting up automatic transfers to a dedicated savings account, and cutting down on non-essential spending. Additionally, it advises on managing debt, improving credit scores, and exploring first-time homebuyer programs to make the home buying process more affordable. The piece stresses the importance of patience and discipline in saving for such a significant investment.

Read the Full Fortune Article at:
[ https://fortune.com/article/save-money-to-buy-house/ ]

N@N

Want to buy a house? How to save for the down payment and closing costs