Tuesday, November 01, 2016
According to a 2015 BMO Harris report, 52 percent of Americans plan to buy a home in the next five years. Saving for a down payment, typically between 5 to 20 percent of the home’s value, is one of the biggest challenges for those aspiring homebuyers. The American Bankers Association Foundation is highlighting six tips to help consumers cut costs and start saving. “A down payment is often the largest single payment a consumer makes in their lifetime and saving for it isn’t easy,” said Corey Carlisle, executive director of the ABA Foundation. “However, with a few changes, consumers can put themselves on track to make their homeownership dream a reality.” The ABA Foundation offers prospective homebuyers these saving strategies:
For more information on American Housing Month, visit aba.com/housing.
Sign up here to receive our Newsletter and other money saving tips.
Site by Spinutech