Home shopping? Easy ways to save for a down payment.

Are you planning to buy a new home this year? Most likely, you’ll need a down payment. Here’s how to ensure you’re ready to go when you find that dream home…

1. Find out how much house you can afford. There are a lot of considerations made when determining how much home you are qualified to buy, what your monthly payments will look like and how much money will be due at closing. So it’s always in your best interest to talk to us first to determine your target price range and start your home search with the right expectations.

2. Save, save, save. Once you’ve determined your budget, you’ll know what you need for a down payment. While it may seem daunting, here are some tried and true tips to get you into your new home sooner.

• Automate: Deposit a portion of your paycheck every month into a separate savings account to be used only for your down payment.
• Raises & Bonuses: Consider putting aside incremental earnings towards your down payment savings plan
• Windfalls: Gifts, tax returns, inheritances are also perfect opportunities to build your down payment account.
• Keep the car, save the payment: Paid off your car? Resist the urge to buy new and instead save the monthly payment

3. Take advantage of HomeAdvantage Cash Rewards*. Don’t forget, when you use our free HomeAdvantage® program and approved network of real estate agents, you’ll earn Cash Rewards– an average of $1,500 at closing!

Get started today! Or call us at 651-747-4663.

*The HomeAdvantage® program is made available to you through a relationship between Ideal Credit Union and CU Realty Services. Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network. Home buyers or sellers are not eligible for Cash Rewards if they use an agent outside this network. Using Ideal Credit Union for a mortgage is not a requirement to earn Cash Rewards. Cash Rewards amounts are dependent on the commissions paid to the agent. Ideal Credit Union may have specific rules on how your Cash Rewards will be paid out. Cash Rewards incentives are available in most states; however, are void where prohibited by law or by the lender. Please consult with your credit union to get details that may affect you.