Great home buying strategy from Trulia today. Over the years, I have worked with a number of buyers where the big hurdle in buying a home was not the monthly payment but accumulating the money needed for the down payment and closing costs. Now that the era of zero down and no documentation loans is over, borrowers have to be better prepared as they start the home buying process. Today there are a variety of mortgage programs available but unless you are a veteran or using Rural Housing funds, some level of down payment probably will be required.
In a report published by Trulia today, the author lists seven ways to save for your down payment. Some of the tips are obvious but there are a couple of sources that you may not have thought of. Here is a link to the story by Tara-Nicholle Nelson