How to Save for a Down Payment Faster: 10 Practical Tips

Buying a home is one of the biggest milestones—and for many buyers, saving for a down payment is the biggest hurdle. As trusted mortgage partners, we're here to help buyers feel prepared, confident, and informed throughout the process.

At BankFirst Mortgage, we believe small, consistent steps can make a big difference. Here are 10 practical, easy-to-share tips you can pass along to help buyers reach their down payment goals faster.

1. Start With a Clear Target

Buyers should talk with a lender early to understand how much they may need for a down payment, closing costs, and reserves. Having a concrete number turns a vague goal into a manageable plan.

2. Open a Dedicated Savings Account

Keeping down payment funds separate from everyday spending helps prevent “accidental” withdrawals and makes progress easier to track.

3. Automate Monthly Transfers

Automatic transfers—even modest ones—build momentum. Consistency matters more than starting with a large amount.

4. Use Round-Up Savings Tools

Many buyers overlook how everyday purchases add up. Rounding up debit card transactions and transferring the spare change into savings can quietly accelerate progress—without requiring big lifestyle changes.

BankFirst tip: BankFirst offers Every Penny Counts, an optional account add-on that automatically rounds up debit card purchases and transfers the difference into a personal savings account. It’s a simple way for buyers to save a little more with every swipe.

5. Cut One Expense at a Time

Rather than overhauling an entire budget, suggest eliminating or reducing one recurring expense—like subscriptions or dining out—then redirect those funds toward savings.

6. Put Extra Income to Work

Tax refunds, bonuses, side hustles, or monetary gifts can significantly boost a down payment fund when saved instead of spent.

7. Take Advantage of Employer Benefits

Some employers offer bonuses, assistance programs, or matched savings options. It’s worth checking what benefits may be available.

8. Explore First-Time Buyer Programs Early

Down payment assistance programs, grants, and low-down-payment loan options can reduce the amount buyers need to save on their own. Planning ahead is key.

9. Avoid New Debt While Saving

New loans or credit card balances can slow progress and impact qualifying power. Keeping debt in check helps buyers stay on track.

10. Partner With a Local Lender like BankFirst

Local lenders understand the market, available programs, and realistic timelines. Ongoing guidance helps buyers adjust their savings plan as goals and circumstances change.

Working Together for Confident Buyers

Helping clients prepare financially before they find “the one” leads to smoother transactions and stronger relationships for everyone involved. When buyers know their options and have a plan, they’re empowered to move forward with confidence.

The BankFirst Mortgage team is always here to partner with you—answering questions, running scenarios, and helping buyers take the next step toward homeownership.

Let’s keep the conversation going and help more buyers turn plans into keys. ????

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.