In this episode, I'm going to discuss how to save for a downpayment on a house. A house is one of the best investments you can make in terms of building wealth. As a loan processor at a large mortgage company in Detroit, I learned so much about the importance of saving money for a downpayment and the additional expenses that go into purchasing a house. 

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Here are my tips:

1. Consider your dream home. 

2. Consider the location. 

3. Consider the prices. 

4. Review your budget and income. 

5. Prequalify for a loan if you're ready to purchase. 

6. If you are prequalified for a loan, ask about what your downpayment options are. 

7. Save for a downpayment by calculating the length of time and the amount of money you have before you purchase your home. 

8. Stick to a budget 

9. Use a tracking chart like debt free charts. https://debtfreecharts.com/products/down-payment

10. Open a separate checking account to track your spending. I love Ally or SofiMoney.