5 Easy Ways to Save Up for a Down Payment

Post from: 5 Easy Ways to Save Up for a Down Payment

1. Create a Budget
2. Slash Expenses
3. Sell Items
4. Set Aside Unexpected Money
5. Take on Extra Work

“If you don’t plan to live in your investment, you will typically need around 15 to 20 percent down payment for a single-family home,” according to Holly Johnson of LendingTree. “To qualify for the lower 15 percent down payment, you usually need a credit score of 720 or higher. For a multifamily unit you don’t plan to live in, you will likely need to put down 25 percent of the purchase price.”

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