Best way to start saving for a down payment on a house (and how to do it fast!)

Apr 22, 2019

Planning to buy a home? What's the best way to start saving quickly? In this episode, we talk with Mujtaba Syed, Mortgage Specialist with the Bank of Montreal, and discuss top tips to save up for a down payment on a home. We also explore if you should pay off your debt before saving for a home, how much should you actually save and if it's better to save more than 20% for a down payment. Finally, we talk about down payment assistance programs you may want to take advantage of. 

 

 

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/best-way-to-start-saving-for-a-down-payment-on-a-house

 

 We discuss the following items: 

• Top tips to start saving for a down payment on a home
• Is it advisable to pay off your debt before saving for a down payment?
• If you really need to get money for a down payment fast, what can you do?
• How much should you save for a down payment?
  • Is it better to save up past 20%?
• What are some down payment assistance programs to take advantage of?

 

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