4 Ways to Save Up for a Home Purchase

Carmen Brown April 14, 2026

Purchasing a home comes with a lot of costs. Not only do you have to prepare for your new mortgage payment, but you’ll also need money upfront for your down payment, earnest money deposit, moving expenses and closing costs.

This can be a huge hurdle for many who dream of owning a home. Fortunately, there are strategies that can help you save more (and faster).

If you’re working on saving up for homebuying costs, here are some tips that can help.

Use a high-yield savings account. Don’t just stick your homebuying money in the checking or savings account you’ve had for decades. Shop around to find a high-yield savings account that will allow you to earn more interest and boost your efforts. A certificate of deposit may also be a good option if you have an idea of your timeline.
Reassess your everyday expenses. Streaming services, gym memberships, takeout and more — the costs of these things can add up (and often fall through the cracks). Take a look at your bank and credit card statements, and cancel what you no longer need or use so you can put those savings toward your homebuying goals.
Consider a different loan type or assistance. Several loan options, including USDA and VA loans, require no down payment and can reduce your upfront homebuying costs considerably. We can also see if you’re eligible for a down payment assistance program.
Ask for help from your community. Your friends and family might be willing to give you gift money toward your home costs, or your employer may have a benefit program that could help. You can also start a crowdfunding campaign online to raise money.

Ready to start your house hunt? Get in touch so we can take the first steps toward finding the right home for you.