Home Sweet Home in 2018 | First Volunteer Bank

Are you ready to add homeowner to your list of titles? We don’t blame you, especially since now is a great time to purchase a new home.

However, whether you are looking to upgrade, downsize or are just a first-time homebuyer, our team at First Volunteer Bank wants to help offer some tips on how you can make 2018 the year you become a homeowner.

But, first, it’s time to get to saving so that you have a down payment ready to go when buying a new home.

###Where Can You Find Your Down Payment?

While there are some mortgage loan programs, especially for first-time home-buyers, that offer a $0 money down on a new home, putting down a good amount of money will help you keep your mortgage payments manageable.

Therefore, you want to work hard, starting today, to save as much money as you can for a down payment on a new home.

For starters, start back making some cutbacks in your monthly budget. Whether it’s not eating out as much or renting movies instead of going to the movies, every moneysaving effort helps.

Second, you also want to put a column for down payment in your monthly budget. If you go ahead and plan on saving a certain amount each month for your down payment, you can get yourself in the habit of putting money back.

You’ll want to keep the money you’re saving in a separate account so that you won’t be tempted to spend it.

Finally, now would be the perfect time to host a yard sale or declutter your home and sell things online. It might not be enough for your entire down payment, but it will give you a good foundation.

Plus, you want to declutter your home anyway before moving, so this will be a great way to kill two birds with one stone.

You also want to be realistic when it comes to saving for a down payment on your new home. Let’s face it. You are probably not going to be able to save $5000 in a month. (If you can, great!)

But for most of us, building a down payment, depending on the size, is going to take some time. Therefore, you want to make sure you give yourself an ample amount of time to save the amount you need.

Are you ready to go house hunting? Visit the First Volunteer Bank website today to learn about mortgage loan options so you’ll know how much home you can afford.