The biggest hurdle for first-time buyers is saving for a down payment. It’s common to put 20% down, but there are loan programs that allow much less. Putting down less up front will come with other costs such as mortgage insurance, or a higher interest rate.

Take your dream seriously and make yourself a budget. See here you can save on purchases and put it in a savings account. Can you increase your income by taking on a side hustle? Bit by bit, your savings will grow. It is possible!

Use this down payment calculator to set your savings goals.

You can also arm yourself with information about the different types of loan programs available. In addition to conventional mortgages, lenders offer a wide variety of programs that you may qualify for such as the Federal Housing Administration (FHA) load program that permits down payments as low as 3.5%. There are loads guaranteed by the Department of Veterans Affairs (VA Loans) that may not require any down payment at all.

But be aware that a low down payment will mean having a higher monthly payment and your income must support that financial burden.

Lastly, you may qualify for state programs that offer assistance for first-time buyers. Help can come in the form of down payment assistance, closing cost assistance, tax credits and discounted interest rates.