The bigger down payment you can afford often means a better interest rate and bigger loan for you. However, you may be wondering how to save up for a down payment on your home. If you have down payment distress there are several programs that can help you. Both Fannie Mae and Freddie Mac are federally sponsored companies with programs like this. Also, there are state agencies, nonprofit and community groups that can lend a hand if you qualify.

Another place to find money for a down payment is your IRA. Tax laws allow you to use up to $10,000 in IRA funds for a down payment. If you are married, both you and your spouse qualify separately, which means up to $20,000 can be available. The only stipulation is that you, or your spouse, haven’t owned a home in the previous two years. You can also look into borrowing against your 401(k) for the down payment.

Another creative way for making more money is getting a second job. If you are younger and not yet at a higher pay level, this can be especially helpful. Or you may consider selling your collection of vintage lunch boxes or any other treasure you have hidden in your closets. You can also sell everyday items you aren’t using in your home on craiglist.org or Ebay.com for extra cash. Finally, if you have relatives that are better off you could ask for a loan, or perhaps everyone to pitch in money as a Christmas gift.

Ideally you should have the money for your down payment at least two months in advance. If you are unable to come up with the ideal 20% look for special programs or mortgages offered to first time home buyers or special needs buyers to make up the rest.