Economists Forecast Recovery to Begin in the Second Half of 2020With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up
62% of Buyers Are Wrong About Down Payment Needs
Dated: October 9 2019
Views: 42
62% of Buyers Are Wrong About Down Payment Needs
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.
Brett Schlieker
As an Idaho agent who’s an expert in the local area, I pride myself on offering superior personal service before, during and after your transaction. Knowledge, commitment, honesty, expertise, and pr....
Latest Blog Posts
Economists Forecast Recovery to Begin in the Second Half of 2020With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up
Why This Summer Is the 2020 Real Estate SeasonWith stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into
Buying or Selling a Home? You Need an Expert Kind of GuideIn a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate through the
Information provided by Intermountain MLS (IMLS) is deemed reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Intermountain MLS system. Real estate listings held by brokerage firms other than Homes of Idaho are marked with the IDX icon. IDX information is provided exclusively for consumer's personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties
