Homebuyers

How the “Great Lock-In” Trend Could Help You Finally Buy a Home

If you’ve been on TikTok, Instagram, or other social media platforms lately, you’ve probably seen the “Great Lock-In” trend. The idea is simple. As the year winds down, people commit to a focused few months of self-improvement.

For aspiring homeowners, that same effort can be powerful.

“The ‘Great Lock-In’ isn’t just a social media challenge, it’s a mindset shift that can help future homebuyers see what’s possible when focus meets consistency,” said Mosi Gatling, SVP Strategic Growth and Expansion at New American Funding in Las Vegas.

Here’s what buyers need to know about how the lock-in approach can get you closer to the keys to your own home.

The Great Lock-In may help you save for a down payment and beyond

Even with mortgage rates easing, affordability remains a hurdle, especially for first-time buyers.

The good news is that some mortgages don’t require any money down, others allow buyers to put down as little as 3%, and there are down payment assistance programs that may help you.

But lenders still want to see proof of funds, real, traceable money you’ve set aside.

“Short-term savings sprints can make a huge difference,” said real estate investor Jackie Coffey. “Think of it like a financial ‘boot camp.’ You’re proving you can manage money and build discipline fast.”

You may want to get your friends and family involved in the process.

“Track your progress weekly, and don’t be afraid to share your wins with others,” said Gatling. “Turning a private goal into a community effort can make the process more rewarding and sustainable.”

Step 1: Define how much you need to save to buy a home

You can’t hit a target you can’t see. Start with your likely home price range, then work backward to calculate the down payment you’ll need.

For example, on a $400,000 home:

• 3% down = $12,000
• 5% down = $20,000
• 10% down = $40,000
• 20% down = $80,000

Then add another 2% to 5% for closing costs.

If your number feels intimidating, that’s normal. The point of a “lock-in” window is to test what’s possible and prove to yourself that progress is real.

“Start with small, clear steps,” said Gatling. “And name your goal, whether it’s your down payment, closing costs, or cash reserves.”

Step 2: Audit your spending and create a budget with a homebuyer’s mindset

If you’re saving to buy a home, you want to see where your money is going. Pull up the last three months of bank and credit card statements and sort your expenses into needs, wants, and waste.

This step is about redirecting money toward your future home keys.

Those $50 subscription fees, late-night Ubers, and takeout nights add up fast. Trim the excess and you’ll not only grow your homebuying funds but also show lenders you can budget responsibly.

Pro tip: Aim to reduce monthly debt obligations so your debt-to-income ratio stays under 43%. This is how much debt you have compared to how much you earn, something lenders evaluate when deciding whether to approve you for a loan.

Step 3: Create your own “lock-in” window to save up for a home

If you’re trying to save money as quickly as possible, it helps to set parameters. Choose a specific time frame, say, 90 days, and treat it like a focused financial challenge. For that period, commit to hard rules that move you closer to becoming a homeowner.

Here are a few viral challenges that people recommend:

• No online shopping unless something breaks.
• Limit dining out to once a week.
• Redirect every “extra” dollar (i.e., bonuses, refunds, side-gig income) into your home fund.

A defined window makes it easier to push yourself without burning out. And when the window ends, you’ll know which habits to keep, and which were temporary.

Step 4: Automate your home fund to come out of your paychecks

Behavioral experts say that automating your savings can beat sheer willpower. So, to set yourself up for success, set up automatic transfers from your paychecks into a separate high-yield savings or money-market account labeled “Home Down Payment.”

“Make saving non-negotiable,” said Gatling. “For example, treat your down payment like a bill that gets paid first.”

These accounts often earn interest, so your savings can grow over time. Just ensure the account allows easy documentation since underwriters need a clear paper trail for all funds used at closing.

Step 5: Grow your income instead of just cutting costs

If you have the time and energy, consider adding short-term income streams from extra work. This can be anything from delivering food to designing websites on the side.

Even an extra $250 a week is $3,000 a quarter. That may be enough to contribute to closing costs or cover an appraisal fee.

Some renters even “house hack” early by taking on a roommate and banking the rent difference.

Step 6: Combine your savings with down payment assistance

Homebuyers hoping to turbo-charge the size of their down payments may want to look into down payment assistance programs.  

Many first-time and other buyers qualify for grants or forgivable loans that help boost their down payments and cover closing costs. Some will even match what they’ve saved up to a certain amount, depending on the program.

The right lender may be able to help you identify these programs.

Pairing your personal lock-in fund with one of these programs may move you toward homeownership faster.

Most programs require proof of income limits and a completed homebuyer education course, another reason to start early. They are typically only available in designated areas, to those who earn up to a specified limit, or to those working in certain professions.

Step 7: Stay mortgage-ready while you save

During your lock-in months, here are other actions you may want to take to get mortgage-ready.

• Check your credit score
• Pay all bills on time, as payment history accounts for 35% of your credit score
• Avoid opening or closing major credit lines, which can ding your credit score

These steps don’t cost anything. But they can make a huge difference in qualifying for the lowest possible mortgage interest rate when you’re ready to buy. And lower rates equal lower monthly housing payments, saving future you money.

The Great Lock-In takeaway for homebuyers

The Great Lock-In may have started as a social media craze. But it captures something powerful: focus works when you’re trying to buy a home.

Whether your “lock-in” lasts three months or a full year, you’re building the financial habits every successful homeowner needs, including budgeting, credit discipline, and proof that you can handle a monthly payment.

“Even three or four months of intentional saving can help buyers see real movement toward their goals and homeownership,” said Gatling. “The key is consistency, not perfection.”

Mosi Gatling NMLS # 557166