Have you been told that you need a 10% down payment? Read on for the truth:
Are you one of the non-homeowners who are under the impression that you need a 10% or greater down payment to purchase a home? Keep reading for the truth:
According to the National Association of Realtors, 87% of non-homeowners think that a down payment of 10% or more is necessary to purchase a home!!! The truth is that the median down payment for first time buyers has been 6% for three straight years and some programs only require 3.5%.
There are numerous loans available that first-time buyers will find appealing, although sifting through all of them can seem daunting. The good new is, you don't have to. Stop in, give us a call or click here to contact us. We can discuss options with you and give you names and contact information for banks and mortgage brokers depending on your specific situation.
It's always our goal to make the home buying process less stressful for you. We want you to understand, and be comfortable with every step.