“Many first-time buyers still believe they need a 20% down payment to buy a home in today’s market.”
According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market:
“More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.”
When potential homebuyers think they need a 20% down payment to enter the market, they also tend to think they’ll have to wait several years (in some markets) to come up with the necessary funds to buy their dream homes. The report continues to say,
“The truth: 32% of current U.S. homeowners put 5% or less down on their home, according to census data.” (as shown below):
The lack of knowledge about the home-buying process is unfortunately keeping many motivated buyers on the sidelines.
Bottom Line
Don’t let a lack of understanding keep you and your family out of the housing market. Let’s get together to discuss your options today.
To view original article, visit Keeping Current Matters.
Questions You May Have About Selling Your House
If you’ve been considering selling your house, and have some questions, call us today for some clarity.
Worried about Home Maintenance Costs? Consider This
If you’re worried about home maintenance, here’s some information you may find interesting.
What’s Next for Home Prices and Mortgage Rates?
If you’re ready, willing, and able to afford a home right now, partner with a trusted real estate advisor to decide what’s right for you.
The Number of Homes for Sale Is Increasing
In today’s homebuying market, it’s more important than ever to find a real estate agent who really knows your local area.
Thinking of Selling? You Want an Agent with These Skills
A great agent will be very good at explaining what’s happening in the housing market in a way that’s easy to understand.
Home Prices Are Climbing in These Top Cities
Persistent demand coupled with limited housing supply are key drivers pushing home values upward.