The best way to come up with a down payment for a home: save for one, of course! But sometimes you’re in a hurry. Maybe your dream house just popped up on the market, or you’ve simply had it with being a renter. Whatever the reason, you’re ready to buy a house, now. But while your credit is good and your career is stable, you still need to come up with that big chunk of change for a down payment.
Never fear: There are plenty of ways to amass a sizable down payment fast. Check out these tactics, along with their pros and cons.
1. Dip into your 401(k)
If you’ve been socking away money in your 401(k), it is possible to borrow from that for a home loan—and get that cash in hand fast.