Anyone who has saved for a down payment for a home knows it’s tough — especially for first-time homebuyers. In 2018, the National Association of Realtors (NAR) found that for 13% of first-time homebuyers, said the most difficult step in the homebuying process was saving for a down payment.
It’s a misconception that a 20-percent down payment is required for a home purchase, when in reality, many home loan options exist that may be able to put consumers into a home for as little as three percent down. In fact, 77 percent of non-cash first-time homebuyers in 2018 purchased a property using a down payment of less than 20 percent. Buying a home may be within reach please contact The Linda & Ryan Lowe Team so we can set up a time to meet and discuss the home buying process and determine when the timing is right for you to considering purchasing your first home.