The following is a sponsored partnership. All opinions are 100% my own. This movement is powered by Unison.
I have partnered with several amazing personal finance bloggers to help you save for your down payment on your next home.
Why am I doing this, you ask?
I want to help motivate my readers to save for their down payment for their home. I know many of you are interested in purchasing a home, but may not have the motivation to actually save for your down payment – and your down payment is so very important!
I purchased my first house at the age of 20. See, I needed a place to live (I was on my own since I was around 18 years old and my dad passed away. I received no inheritance, and desperately needed a place to call my own.
I was young, though, and I made so many mistakes when it came to purchasing a home. While I did manage to buy my own home when I was very young, there were so many mistakes that I made.
One thing I did was that I didn't save enough for a large enough down payment. Instead, I put the smallest amount that I could down and this led to me paying PMI. I recommend reading Can You Remove PMI From Your Mortgage? to learn more about PMI.
In 2009, me and my husband bought a house but didn't have 20% down. We were taking advantage of the low housing prices and the first time homebuyer's tax credit.
One thing we didn't much think about was mortgage insurance and how much it would affect us.
Yes, we're human, and we made a mistake. While we no longer own that home (we are full-time RVers now), we do wish we would have found a way to not pay mortgage insurance.
So, when I came across the Down Payment Movement, I was so excited to share it with you all.
This movement was created because I have heard from so many people that they cannot afford a home of their own. While owning a home isn't for everyone (as there are many situations in which renting may be a better solution), owning a home is also great for many people.
Many potential home purchasers find it hard to save for a down payment for their future home because cost of living is increasing across the United States. Plus, you may have student loans, other debt, and, of course, other bills that you need to pay for.
However, that doesn't mean that home ownership is impossible for you.
I recommend signing up for the Down Payment Movement, as you'll get the motivation that you need in order to save for your down payment.
The movement is FREE, and you will get a 12 -week home buying course which gives you all the basics on the home-buying process, such as:
- How to Know If You’re Ready to Buy a Home
- How Much Home Can You Afford
- What Credit Score Do You Need to Buy a Home
- How to Get Pre-Approved to Buy a Home
- How to Choose a Real Estate Agent
- How to Find the Right Home for You
- What to Look for When Home Shopping
- How to Make a Successful Offer On a Home
- How to Apply for a Mortgage
- Is It Better to Have a 20% Down Payment
- How Does Mortgage Insurance Work
- What You Need to Know About Closing Costs
This movement sounds so amazing to me, and I definitely think anyone who is thinking about purchasing a house will benefit from it.
You can check out the Down Payment Movement more here.
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