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What are the best ways to save money for a down payment on a house?
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1. Start by setting a budget and sticking to it.
2. Look into government grants or programs that can help with saving for a down payment.
3. Consider working overtime, taking on extra hours, or finding other part-time work.
4. Make use of tax breaks such as deductible mortgage insurance premiums.
5. Try to get a better interest rate on your current loan or refinance if you can.
6. Cut back on unnecessary expenses like eating out and entertainment.
7. Take advantage of employer match programs offered through 401(k)s or IRAs.
8. Consider using savings from selling an existing property to fund your down payment.