Consumer inflation remained steady in December, still above the Fed's target and still causing affordability concerns for many Americans.

Wholesale inflation was softer than expected but remained stubbornly high in November, a potential signal consumer inflation won't fall soon.

Retail sales increased in November by the most since July, suggesting the economy maintained its strong pace of growth in the 4th quarter.

The U.S. Census Bureau reports new home prices fell to a 4-year low in October. The median price hit $392,300, down 8% from a year earlier.

Existing home sales ended the year strong with a 5.1% jump in December. The median home price was $405,400, up 0.4% year over year, per NAR.

After rates dropped last week, mortgage purchase apps were up 16% for the week and 13% year over year. Refi apps surged 40% for the week.

 

Buying a home is one of the biggest financial milestones you’ll ever reach—and for many people, saving for it feels like the hardest part. Between rent, everyday expenses, and rising costs, putting money aside for a down payment can feel overwhelming.

The good news? Saving for a house doesn’t require extreme sacrifices or complicated strategies. With a clear plan, consistent habits, and the right guidance, homeownership can be much closer than you think. At Greenway Mortgage, we help buyers turn goals into keys every day—and these seven tips may help you do the same.

7 Tips to Save Money for a House

1. Set a Realistic Homebuying Timeline

Before you start saving, decide when you want to buy. Is it two years from now? Three? Five? Your timeline should match your income, lifestyle, and comfort level—not someone else’s expectations.

A realistic timeframe keeps you motivated without putting unnecessary pressure on your finances. Consistency with savings matters far more than speed.

2. Automate Your Savings

Once you know your timeline, decide how much you can comfortably save each month. Then make it automatic.

Setting up recurring transfers—weekly or monthly—takes the guesswork out of saving and helps you stay consistent. Treat your down payment like a non-negotiable bill you pay to yourself.

Bonus tip: Budgeting apps can make this even easier. Many apps help you track spending, set savings goals, and show exactly where your money is going—so you can find extra room to save without feeling restricted.

3. Pace Yourself and Stay the Course

Buying a home is a marathon, not a sprint. It’s easy to feel rushed when you see others buying or hear market noise—but moving too fast can lead to financial stress.

Give yourself permission to take the time you need. You’re balancing rent, bills, and life while building toward something big. Steady progress wins every time.

4. Focus on What You Can Comfortably Afford

When saving for a home, affordability should always be the priority. A modest, well-priced home can be a smart first step and still meet your needs.

Your first home doesn’t need every upgrade—it needs to fit your budget and support your long-term financial goals. You can always build equity and upgrade later.

5. Trim Monthly Expenses Where You Can

Cutting back—even temporarily—can make a big difference. Review your spending and look for areas to reduce, such as unused subscriptions, frequent dining out, or impulse purchases.

Living slightly below your means now can help you reach homeownership sooner—and with less stress.

6. Explore Additional Income Opportunities

If your savings feel stalled, boosting your income may help. This could mean overtime, freelance work, or a side hustle that fits your schedule.

Extra income—even if it’s short-term—can significantly speed up your down payment savings and strengthen your financial profile when it’s time to apply for a mortgage.

7. Talk to Real Estate and Mortgage Professionals Early

Saving is only one piece of the puzzle. Speaking with a real estate agent and a Greenway Mortgage loan officer early on can help you understand what price range makes sense and what loan options may be available to you.

At Greenway Mortgage, we help buyers create a clear plan—so you’re saving smarter, not just harder.

The Bottom Line

Saving for a house doesn’t have to feel impossible. By setting a timeline, automating savings, managing expenses, and getting professional guidance, you can turn a long-term goal into a realistic plan. Small, consistent steps add up—and every dollar saved moves you closer to homeownership.

You don’t need perfect finances to buy a home—you need a strategy. With the right plan and the right team, saving for a house can feel achievable instead of overwhelming.

Thinking about buying a home?
Let’s build your plan together. Contact Greenway Mortgage today to explore your options, set savings goals, and take the first confident step toward owning your home.

 

Does it cost more to rent or own?

The answer may surprise you. Many people assume renting is cheaper — but the reality is more nuanced. Comparing housing costs isn’t just about monthly payments. It’s about long-term financial impact, equity, tax benefits, and lifestyle choices.

 

 

 

Even with numbers like these some still say renting is better:

• "Investing in a home is riskier than renting." No risk, no reward. Besides, even studies conducted by the Federal Reserve show that owning can provide a net worth that is from several to hundreds of times greater than that of renters.*

• "Home values aren't stable." While home prices can drop during some real estate cycles, values have proven to rise over time. The 50-yera average appreciation rate is just over 5% annually.

• "The tax deductions aren't worth it." Some people benefit from claiming deductions for mortgage interest and real estate taxes. Others find a standard deduction more valuable. Even if you exclude the tax benefit, the real cost of owning can still be less than renting.

• Equity for you or equity for your landlord? With more or less equal payments, owning will always have an advantage in that you’re paying down principal and earning equity in your own home rather than the landlord's.

Thinking about making the move from renting to owning?
We can help you explore your options and find a path that works for your budget and goals. Call us at 888-616-9885 to get started or click 'get pre-approved' below to start your online pre-approval application. 

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Factors used: $300,000 purchase price, 20% down, $240,000 fixed loan at 6.5%/6.822% APR. Principal and Interest payment = $1,517, taxes = $188/Mo., insurance = $50/Mo., and maintenance = $250/Mo. (1.00% of value). Tax deductibility at 20%. Tax savings, principal paid, and appreciation averaged over the first 12 months. Always consult with your tax advisor for advice specific to your situation. This is not an offer to lend. Rates, prices, taxes, insurance, etc., are all subject to regional and market differences and can change at any time. APR calculation is based on closing costs of 3% of the loan amount. Actual fees can be more or less.

*Federal Reserve, “Report on the Economic Well-Being of U.S. Households in 2024,” May 2025.

 

Don’t believe everything you hear about homebuying — especially the old “you need 20% down” rule.

While putting 20% down can help you avoid mortgage insurance, it’s not a requirement to buy a home. In fact, many homeowners today purchase with far less.

Let’s break it down:

Low and No Down Payment Options

• 0% Down – Eligible veterans and active-duty service members can take advantage of VA loans, and rural homebuyers may qualify for USDA loans—both offering zero down payment options.

• 3% Down – Fannie Mae and Freddie Mac conventional loans allow qualified buyers to purchase with as little as 3% down on most single-family homes.

• 3.5% Down – The FHA loan is one of the most popular low down payment programs. It requires just 3.5% down and is more flexible with credit scores and debt-to-income ratios.

• 5%–10% Down – Many conventional loans fall into this range, especially for buyers purchasing single-family properties.

• 10%–20% Down – Some multi-family properties and other specific loan types may require a bit more, but it’s still far from the full 20%.

What About Mortgage Insurance?

If you put less than 20% down, you may have to pay mortgage insurance (MI) or private mortgage insurance (PMI). While it’s an extra monthly cost, it often makes sense — because it gets you into a home sooner, allowing you to start building equity instead of paying rent.

Many of our clients began with a small down payment, built equity over time, and later refinanced to:

1. Remove PMI/MI,

2. Lower their interest rate, and

3. Even take cash out.

The Bottom Line

You don’t have to wait until you’ve saved 20% to buy a home. With today’s programs, you can become a homeowner with little to no money down — and start investing in your future sooner than you think.

Ready to explore your options? Reach out today, and we’ll help you find the best path to homeownership.

 

Tap into your home equity for investment property upgrades

Investing in real estate beyond your primary home is a powerful way to diversify your portfolio and build long-term wealth. Whether you’ve just purchased a fixer-upper to flip or own a rental that needs some TLC, careful planning can help you save time, money, and stress along the way.

At Greenway Mortgage, we understand that smart renovation decisions start with understanding your goals, choosing the right funding strategy, and focusing on improvements that deliver lasting value.

Key Takeaways

• Renovating investment properties can increase ROI by raising rent value, boosting sale prices, and preventing costly repairs down the line.

• Funding options include using home equity through a HELOC, home equity loan, or cash-out refinance.

• Careful planning, budgeting, and patience — plus doing smaller updates yourself — can lead to a smoother, more cost-effective renovation.

 

Why Make Improvements to Your Investment Property? 

Renovating a rental property can be an excellent way to enhance income and value. But before diving in, clarify your “why.”

For some investors, renovations are about necessary maintenance — ensuring the home stays safe, compliant, and attractive to tenants. Others renovate to build equity and prepare for a future sale. Routine upkeep such as roofing, plumbing, or foundation work preserves value and prevents expensive issues later on.

And of course, strategic updates can justify higher rents and improve cash flow. If your planned renovations don’t help maintain or grow your property’s rental potential, consider reprioritizing your projects.

 

 

Funding Options for Investment Property Improvements

Before getting started, determine how you’ll pay for your renovation and what your maximum budget is. While cash is always king, not everyone has tens of thousands available for upgrades.

Many investors tap into home equity—either from their primary residence or another property. Your home equity is the difference between your property’s current market value and the balance you still owe on your mortgage.

You can access it through several options:

• Cash-Out Refinance: Replace your existing mortgage with a new one for a higher amount, and take the difference in cash.

• Home Equity Loan: Receive a one-time lump sum with a fixed rate and repayment term.

• HELOC (Home Equity Line of Credit): Borrow as needed up to a set limit, paying interest only on what you use. This flexibility can be ideal for staged renovations or multiple small projects.

Tip: Greenway Mortgage offers competitive home equity and refinance options that can help you fund your investment property updates strategically.

 

Planning, Budgeting, and When to Do It Yourself (DIY)

Renovating an investment property is about maximizing returns — not personal comfort. Every decision should tie back to ROI.

Start by checking for major issues that must be addressed first, such as the roof, foundation, or water damage. These should take priority, since fixing them early prevents costly surprises later.

Next, research comparable properties in your market. What features are most in demand — modern kitchens, updated bathrooms, central air? Understanding the competition helps guide your renovation focus.

For smaller cosmetic updates, consider some DIY work:

• Replace lighting, faucets, and hardware

• Repaint walls in neutral colors

• Add a backsplash or replace outdated flooring

• Clean and refresh landscaping for better curb appeal

Create a clear plan and budget. Unexpected costs can derail even the best projects, so set limits and identify which updates are “must-haves” vs. “nice-to-haves.”

Maximizing the Impact of Your Investment

Focus on updates that increase value and attract quality tenants.

• Kitchen and bath remodels offer strong returns — even simple refreshes like new counters, cabinets, or fixtures.

• Energy-efficient upgrades (insulation, windows, LED lighting) help reduce operating costs and appeal to eco-conscious renters.

• Safety and security improvements (locks, cameras, lighting) can make your property more desirable and even justify higher rent.

Match your upgrades to your target market — luxury buyers appreciate premium finishes, while budget-minded renters prefer clean, durable, and affordable updates.

 

 

Finding the Right Contractor

Some projects are great for DIY; others require a licensed professional. When hiring contractors:

• Ask for Greenway Mortgage or friends/family for referrals and check online reviews. 

• Confirm insurance, licensing, and references.

• Get everything in writing — scope of work, payment terms, and timeline.

The right contractor can save you time, stress, and money while protecting your investment.

 

Smart Investments That Pay Off

Projects with consistently strong ROI include:

• Kitchen and bath remodels

• Energy-efficient improvements

• Exterior upgrades (paint, siding, landscaping)

Avoid over-improving for your market. Focus on what will genuinely boost rental income or resale value, and always keep your overall return in mind.

 

Bottom Line:

Renovating an investment property doesn’t have to be overwhelming. With a clear plan, the right funding strategy, and a focus on ROI, you can update your property efficiently and cost-effectively.

Greenway Mortgage can help you explore financing options — from cash-out refinances to home equity solutions — so you can confidently fund your next renovation and grow your investment portfolio.