Difficult does not mean impossible. Every month that goes by with you as a renter is another losing month. In our example, you lose $381 per month by renting. As soon as you buy, the losing stops.

Consider this example. Suppose you need to save $10,000 to buy a home with a $100,000 mortgage. When you buy, you recover your down payment in 26 months ($10,000/$381). After that, you win! Also, the $10,000 is not completely lost. After closing costs (perhaps $3000 in this example), the rest is equity in your home. Equity turns into cash if you sell the home, or if you get a second mortgage.

How can you make it less difficult? Consider a mortgage with no points (click on Interest Rates for an explanation of points). Ask the seller to pay closing costs (a kind of tax), but allow the seller to raise the price accordingly. The rest of the dollars you must save on your own. I know it is tough, but remember IT'S WORTH IT!

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