You’ll want to ensure you have enough money for your down payment. For conventional loans, you may need as much as 20 percent of the purchase price of the home to avoid Private Mortgage Insurance (PMI). The key is to start saving early. You can setup a specific savings account for your down payment and make regular deposits to it (note: keep this separate from your emergency fund). Setting a savings goal to achieve your dream of homeownership is smart money management. And again, if you’re a qualified first-time homebuyer, you may be eligible for certain loan programs with down payment amounts or state-based programs that offer down payment assistance.