20 Ways to Expand Your Purchasing Power

  • Pay off your debts.

  • Consolidate your debts into a lower-interest rate loan..

  • Buy with someone else.

  • Ask your parents to give you money for a down payment (requires a gift letter).

  • Ask the seller to pay some of your non-recurring closing costs.

  • Ask the seller, or lender, to buy down the interest rate on your mortgage.
  • Buy when interest rates are low.
  • Take advantage of a first-time buyer loan program, if you qualify.

  • Take advantage of government-assisted financing programs, if you qualify.

  • Close late in the month to reduce the interest owed to the lender at closing.

  • Borrow against a 401(k) retirement plan or insurance policy.

  • Borrow against or liquidate securities.

  • Take a penalty-free IRA withdrawal.