Creative Ways to Save for a Down Payment

According to the National Association of REALTORS®' 2016 Profile of Home Buyers and Sellers, the most difficult step in the homebuying process is saving for a down payment. And with the cost of rent so high, renters are finding it more and more difficult to save. So what are some out of the box, but simple, ways that a renter can save for a down payment? Whether it is applying for government assistance, setting up a crowdsourced fund or giving up lattes for a year, there are hundreds of ways to gather the funds.

Story Springboard

Check out HouseLogic’s five creative tips for saving for a down payment. Speak with recent homebuyers in your area to learn how they saved for their down payment. Ask a REALTOR® for stories on the most imaginative ways they have seen clients come up with down payment money.