You may have not realized that 61% of First-Time Buyers Put Down Less Than 6%
According to the National Association of Realtors’ latest Realtors Confidence Index, 61% of first-time homebuyers purchased their homes with down payments below 6% from October 2016 through November 2017.
Many homebuyers who have already discounted themselves from the market simply believe that a 20% down payment is necessary to buy a home.
Predictions for 2018 indicate that the rental rates across the board are expected to continue increasing. This rental growth could continue to make the demand for home buying remain high, as renters who will take advantage of low-down payment products move away from the unpredictability of rising rents and into homeownership.
If you are one of the many first-time buyers who is not sure if you would qualify for a low-down payment mortgage, give us a call today, and together we’ll get you on your path to homeownership!