You probably have certain goals in mind for the new year, and buying a home may be one of them. But to do so, you’ll need to bring money to the table for a down payment.
Most mortgage lenders require at least some amount of money at closing (though there are certain loan programs that don’t require money down, like VA loans). And if you don’t make a 20% down payment on a conventional loan, you’ll get stuck paying private mortgage insurance (PMI).
With that in mind, here are three tips for coming up with your down payment in the course of 2022.