Saving for a House Down Payment with Magnifi

LevelUp is a product of Magnifi Communities and is affiliated with Magnifi via common ownership. Magnifi Communities has an incentive to promote Magnifi. 

Homes are seasonal

For a product that people use 24/7/365, housing prices can be remarkably correlated with seasonality. Mortgage rates and macroeconomic trends like inflation and unemployment certainly play a role, but historical data suggests the housing market is heavily influenced by the time of year as well.

Winter tends to attract significantly less buyers which tends to lower average prices. Families are hesitant to uproot their children’s lives in the middle of a school year and many would just prefer to look after the holidays.

Spring and summer months on the other hand send the housing market into a high volume frenzy. Natural light and blooming greenery enhance open houses and buyers tend to be eager after sitting out the quieter winter months. Deals move at an accelerated pace and bidding wars are not uncommon.

These market trends are of course broad generalizations. A keen awareness of your own market is paramount to choosing the best time to buy; we recommend speaking with a certified real estate agent in your area for local insights.

At the LevelUp, we’re concerned with the financial side of the equation- a process that begins with a down payment. Surprisingly, you don’t need a down payment in order to qualify for a mortgage, but the personal finance expert in us can’t help but tense up at the thought of increasing your loan when there’s a much easier alternative.

That’s where Magnifi comes in. 

If you have the time to build a savings plan, Magnifi will build you a custom made “house down payment” portfolio in order to increase your down payment and reduce future mortgage bills. Skip the walkthrough and sign up for an account here, or keep reading for all the details.

How to use Magnifi to Increase Your Down Payment

Step 1: Answer Magnifi’s questions.

Magnifi will ask you 5 questions so that it can personalize its recommendations based on your specific financial circumstance.

Step 2: Review your instant feedback

Whether you’re right on track, or need significant changes to your timeline, Magnifi will give you an honest assessment.

Step 3: Choose a plan

This is where Magnifi flexes it’s AI muscles; it doesn’t stop at whether or not you’re on track for your down payment. It builds an optimized plan to help you get there- and not just one.

To view your optimized portfolio, or any of Magnifi’s custom plans, sign up here.

That’s it. In 5 minutes you’ll have a personalized plan that you can pursue in totality, fractionally, or just keep on the side as an option down the road. 

The most difficult part of this process is choosing a plan; you’ll have to assess your own risk tolerance in order to figure out the best option. To make things a little easier we’ve broken down the general types of plans Magnifi can offer and their respective risk/return tradeoff:

  • Invest in the optimized portfolio. Magnifi will build a portfolio tailor made for an accelerated timeline towards your target down payment. Highest risk + highest returns.
  • Invest in the broader market. Similar to an optimized portfolio, but with greater diversification across several funds. This the goldilox option- average risk with average returns.
  • Keep it in cash savings. The safest option offering the lowest returns. Magnifi will allocate your cash across a portfolio of savings accounts currently offering the highest yield, so even with low risk you’ll be generating optimal returns.
Once you’ve chosen a plan, you can link your brokerage with Magnifi to ensure real time tracking towards your goal. Better yet, you can set up automatic deposits as part of you savings plan, so that all you have to do is sit back and watch as your portfolio grows. 

Start saving for your Dream Home today

Let Magnifi Do the Planning

Experiment with more financial journeys

If you don’t want to wait to get started on your down payment, we won’t take up any more of your time. You can sign up for a Magnifi on this page.

But we also wanted to make sure you’re not missing out on any additional Magnifi features. Here’s a brief list of just a few of its built in tools. You’ll get access to each one when you sign up, plus anything you can think to ask. Share what you find with us!

Start a charitable donation fund. Find out how much you can afford to give back with Magnifi’s charitable fund planning tool.

Just like the vacation planning tool, Magnifi will offer up a tailor made savings plan if your reach is exceeding your financial grasp. 

Plus, make sure to take advantage of The LevelUp’s content library to catch up on any relevant info you might need any personal finance topic. The tax implications of donating to charity is a great example of something we could all use a bit of a refresher on. 

Retirement Planning. According to PWC, 25% of US Adults have no retirement savings. As a brand committed to independent personal finance, this stat speaks volumes about why we’re working so hard to promote these tools.

Magnifi’s “Plan your Retirement” journey will take your through a quick review of your current retirement pace. Based on your answers, you’ll get a customized plan on how to proceed. 

Fund comparison. Index funds are one of the most powerful tools in any investor’s portfolio. They offer immediate exposure to several different stocks within a given sector which makes diversifying your assets significantly easier.

With the right funds, you can expand your portfolio to include exposure to emerging markets, innovative tech stocks, and income focused assets. 

Magnifi will tell you how funds stack up against each other and which ones you can purchase for exposure to a given sector. The graphic on the right demonstrates this process in detail.


Start expanding your personal finance playbook

Unlike other AI platforms, Magnifi has a fiduciary responsibility to provide the best possible financial insights. Ask it any question you can think of and receive immediate financial feedback. 

If you’re not happy with the analysis, you can always cancel your free trial. We even have a money back guarantee in case you forget to cancel in time. No holding with customer service or lengthy requests; we’ll process the refund right away. We’re in the business of growing your money after all!

We’d also love to hear about any exciting features you discover as you explore Magnifi. Unlike traditional investment tools, AI research learns and optimizes at an accelerated rate which means there’s a chance you discover a feature we haven’t announced to the public yet! This means the AI is working and providing you with the top available options for optimizations; let us know what you find!

The most impactful feature of any AI has been its ability to automate the inefficient processes in task planning and execution. As personal finance experts, we know just how many of those inefficiencies exist when it comes to managing your own money. Try incorporating the first fiduciary responsible AI into your money process; you’ll be surprised at the impact.


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