Buying a home is one of the biggest financial decisions you’ll ever make—and for most people, it starts with saving for a down payment. Whether you're a first-time buyer or getting back into the market, knowing how to plan and prioritize your savings can make the process much smoother (and faster!).

Here are 5 smart, practical steps to help you build your down payment fund with confidence:

1. 🎯 Set a Target Goal

Before you start saving, figure out how much you'll need. While 20% is often ideal, it’s not always required. Many loan programs allow as little as:

• 3%–5% down for conventional loans

• 3.5% down for FHA loans

• 0% down for eligible VA or USDA loans

Talk to a lender or Realtor (like me!) to estimate your target purchase price and the down payment you'll need. For example, 5% down on a $300,000 home is $15,000—not as out of reach as you might think!

2. 💸 Create a Dedicated Savings Account

Open a separate savings account specifically for your down payment. This does two things:

• Keeps the money out of your daily spending

• Makes it easier to track your progress and stay motivated

Some online banks even let you “nickname” your account something like Future Home or Dream House to keep your goals top of mind.

3. 📉 Cut Back on Non-Essentials (Temporarily)

A few small sacrifices now can add up fast:

• Skip expensive takeout a few nights a week

• Cancel unused subscriptions or memberships

• Limit impulse purchases by using a 24-hour rule before buying anything over $100

Even putting aside an extra $200–$300 a month can make a big dent over time.

4. 💼 Increase Your Income

Along with cutting costs, look for ways to boost your income, such as:

• Taking on freelance work or side gigs

• Selling unused items (furniture, electronics, clothes)

• Requesting a raise or working overtime if possible

All extra earnings can go straight into your down payment fund.

5. 📊 Explore Down Payment Assistance Programs

Did you know there are local, state, and national programs that can help with your down payment?

• First-time homebuyer grants

• Employer homebuyer assistance

• Low- or no-interest second loans to cover down payments

Every little bit helps—and you might qualify for more than you think. I can connect you with local lenders who specialize in these programs.

Ready to Start Planning?

Saving for a down payment doesn’t have to be overwhelming. With a plan in place and the right support, you’ll be holding the keys to your new home sooner than you think.

If you're thinking about buying a home—whether it’s this year or next—let’s chat. I can help you understand your options, connect you with trusted lenders, and map out a plan that fits your goals.