Down Payment Savings Not Keeping Up?

Filed under Buying a home on Nov 30,2021 | Tagged in: down payment, homeowner assistance grants, mortgage

Trying to save for a down payment in today’s housing market can feel like chasing a finish line that keeps moving further and further away.  That’s because housing prices keep going up, requiring you to constantly save more money for the home you have in mind.

According to Bankrate.com, there are three ways to respond if your dream home seems out of reach. You can wait for the market to cool down, which can give you the opportunity to continue saving. Another option is to aim lower, altering your home “must-have” list to better suit your financial means. Finally, you could look into homebuyer assistance grants from private mortgage companies, or from FHA and VA loan programs. Of course, no matter what approach you take, working with a professional real estate agent is critical. Vanguard Realty Associates is ready to guide you to the home that fits your down payment and your budget.