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Home shopping? Easy ways to save for a down payment.

By: One Nevada Credit Union / 11 Aug 2022
Home shopping? Easy ways to save for a down payment

If you're planning to buy a new home this year, you'll need a strategy and a down payment. When you find that dream home, ensure you're ready to go by following these tips.

Determine how much home you can afford.
In addition to the ongoing monthly payment, you've got to consider the down payment and closing costs. Use our Affordability Calculator to get a quick estimate, but the best thing you can do is get pre-qualified so you can shop with confidence.

Save, save, save.
Once you determine your target price range, you'll know what you need for a down payment. While it may seem daunting, here are some tried and true tips to get you into your new home sooner.

  • Automate: Deposit a portion of your paycheck every month into a separate savings account specifically for your down payment.
  • Raises & Bonuses: Consider putting aside incremental earnings towards your down payment savings plan.
  • Windfalls: Gifts, tax return refunds, and inheritances are also perfect opportunities to build your down payment account.
  • Keep the car, save the payment: Paid off your car? Resist the urge to buy a new one and instead stash the monthly payment into that down payment savings account.

Take advantage of HOMEAdvantageÒ Cash Rewards*. Don't forget, when you use our free HOMEAdvantage® program and approved network of real estate agents, you'll earn Cash Rewards– an average of $1,500 at closing!

Get started today ( or call us at 702-382-4094.

* Rewards equal 20% of the agent's commission, an average of $1,500 in savings per transaction!

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