4 Tips That Will Help First-Time Home Buyers Afford Their Down Payment

1
In this blog, we cover 4 useful tips that will
help first-time homebuyers afford their down
payment.
Drew Mortgage - Boston Mortgage Broker
Phone [phone] Toll Free 877-949-3739
NMLS ID 2856
2
1
Cut Down On Your Credit Cards

• Reduce credit card spending
• Pay off debt
• Avoid spending on luxury items
• Use your credit cards only as a last resort
• Try to repay them as quickly as possible

First Time Home Buyer Loans USDA Home Loans
203K Rehab Loans
Phone [phone] Toll Free 877-949-3739
NMLS ID 2856
3
2
Sell Off Unnecessary Assets

• You might have to give up certain items and
  services that are taking a toll on your paycheck.
  
• For example, if you have an additional car that
  you rarely use, you could consider selling it to
  gain extra capital.

First Time Home Buyer Loans USDA Home Loans
203K Rehab Loans
Phone [phone] Toll Free 877-949-3739
NMLS ID 2856
4
3
Curb Your Overspending Habits

• Keep your dream home in mind every time you have
  an urge to buy something that isnt an immediate
  priority.
• Discuss how to form a budget with your partner in
  order to optimize your paycheck.

First Time Home Buyer Loans USDA Home Loans
203K Rehab Loans
Phone [phone] Toll Free 877-949-3739
NMLS ID 2856
5
4
Set Up A Down Payment Goal

• Analyze your fixed and unavoidable costs
• Assess your financial position
• And choose a down payment that can work for you.
• You should still stick to it even if youre
  approved for a full payment loan.
• The more you save for your down payment, the
  higher equity youll have in the house.

First Time Home Buyer Loans USDA Home Loans
203K Rehab Loans
Phone [phone] Toll Free 877-949-3739
NMLS ID 2856
6
Drew Mortgage is a well-established name in the
field of mortgage lending that can give
first-time homebuyers expert advice.
Drew Mortgage - Boston Mortgage Broker
Phone [phone] Toll Free 877-949-3739
NMLS ID 2856