How Much For Down?

What do you really need to save for down payment?

Tired of paying rent but don’t have a ton of savings so you think buying a home is out of the question? For most people the fear is that in order to realize the dream of home ownership you have to have at lease 20% down payment. That's $100,000 for a $500,000 purchase, that can kill many peoples dreams.

The Big Lie

• 20% REQUIRED

The Truth

Understanding the available programs can help you ease the worry of having to save that much money to purchase your first home. Knowing who and what to ask can be overwhelming.

• FHA Only requires 3.5% down and that can be a gift
• Conventional Loans have programs with as little as 1% down
• ZERO money down programs are available

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The Numbers

Depending on your situation, a specialized loan program may be available to help you with your down payment.

• 39% of all homebuyers use down payment assistance
• 2 out of every 5 homes sold daily use assistance
• 59% of all home buyers put down less than 20% down

There are programs available, I would love to help create the best game plan for your to get you into a home today. If you are looking for more information about purchasing a new home, contact the Coach and we can get you a customized game plan to accomplish your goals.