Buying a home in 2026? The average down payment is 20% — that’s $60,000 for a $300,000 house. But with the right plan, you can save it in 12–24 months. This guide shows you how.
Why 2026 Is the Perfect Time to Save
Home prices are rising 4–6% annually. Interest rates may drop to 5.5% by mid-2026. Start saving now to lock in lower rates and avoid PMI.
How Much Should You Save?
| Home Price | 20% Down | 10% Down (PMI) |
|---|---|---|
| $250,000 | $50,000 | $25,000 |
| $300,000 | $60,000 | $30,000 |
| $400,000 | $80,000 | $40,000 |
6-Month Savings Action Plan
- Cut Expenses by $800/month: Cancel subscriptions, eat out less. Full guide here.
- Start a Side Hustle: Earn $1,000/month with freelancing or delivery. See top ideas.
- Use High-Yield Savings: Earn 5%+ APY. Compare best accounts.
- Automate Savings: Set up auto-transfer on payday.
- Invest Windfalls: Tax refunds, bonuses → down payment fund.
Down Payment Assistance Programs (2026)
- FHA Loans: 3.5% down for first-time buyers
- State Grants: Up to $15,000 (check HUD.gov)
FAQ
How much to save monthly for $60K in 24 months?
$2,500/month = 24 months → $60,000
Can I use 401(k) for down payment?
Yes, up to $10,000 penalty-free for first-time buyers.
Ready to buy in 2026? Start your savings plan today at Finance Grow Easy.
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