10 ways to come up with a home down payment By Kay Bell You've found the perfect house. Interest rates are at historic lows. There's just one thing standing between you and your dream home: a down payment. Don't abandon your homeownership quest just yet. Here are 10 ways to come up with the cash for your new castle. 1. Pay off your plastic. Paying bills is not fun, but it definitely will help in your hunt for down-payment money. When you carry a credit card balance, the ever-accumulating interest charges mean more of your money goes to the card company each month. Keep that cash for yourself credit card debt elimination debt consolidation loan by cutting your debt load. With Bankrate's payment push system, you prioritize your debts and pay the most on the one with the highest interest rate. Once that's paid, shift your focus to the next highest rate and so on. You'll get the most money-sucking credit card bills out of the way more quickly, freeing up more of your income to go toward building your savings. Continued below 2. Ladder CDs to boost savings. Once you've got a few extra bucks, put it to work making more money for you. Many investors prefer certificates of deposit. They are low risk and relatively accessible. But when interest rates are california bankruptcy laws debt consolidation loan low, the return isn't always what a saver hopes for. You can maximize the earning power of CDs by buying different certificates at varying maturity dates. For example, instead of buying one big CD, parcel out your money into three-month, six-month and one-year certificates. Known as laddering, this gives you flexibility to adjust your savings as rates change. Laddering allows you to lock in when rates are high or, when rates are not so good, the process keeps you from being stuck for too long with low earnings. 3. Use special programs. There are many programs for home buyers in down- payment distress. Borrowers in a wide refinancing mortgage rate debt consolidation loan range of incomes, locales and professional groups may have access to aid from Fannie Mae and Freddie Mac, the government-sponsored offices that buy mortgages and package them as investments. Various nonprofit and community groups also lend a hand to buyers struggling to put money down on a home. And don't forget about assistance from state agencies. 4. Tap your IRA. If you're looking to buy your first home, let the Internal Revenue Service help. Tax laws allow you to use up to $10,000 in IRA funds as a down payment if you've never owned a house. If you're married and you both are first-time buyers, you each debt consolidation loan debt consolidation loan can pull