Are you letting the high price of homes in the Bellingham area keep you from buying? Fear not! So many clients come to us wanting to buy a new home but certain they won’t be able to afford it, and
61 Percent Of First Time Home Buyers Made A Down Payment Of 6 Percent Or Less In 2017
One of the biggest hurdles that potential buyers have to overcome on the road to homeownership is saving for a down payment. Traditionally, you needed a 20% down payment in order to secure a loan and purchase a property. And for many people dreaming of buying property, this large up-front investment put homeownership out of their reach.
But times have changed. Depending on your creditworthiness, you might not need a 20% down payment to purchase a home. In fact, in some cases you don’t even need a 10% down payment. According to the National Association of Realtors’ Realtors Confidence® Index, 61% of first-time buyers in 2017 made a down payment of 6% or less.
Low-down-payment mortgage options, like FHA loans, are making the possibility of homeownership a reality for a new generation of potential homeowners who have the financial means to manage their mortgage payments but don’t have the ability to stash away 20% of the total cost before making a purchase.
If you'd like to know about all of the options available to you, or would like to see if you qualify for down-payment assistance (yes, there is such a thing!), get in touch with me and I can give you a wealth of information you never knew was available and get you in touch with a reputable lender.
If you’ve been putting off homeownership because you’re worried your savings account can’t support a hefty down payment, start talking to lenders. Even if you don’t have any money to put towards a down payment, the possibility of owning a home is within your reach.
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We did it! Our first two Free Real Estate Workshops were a huge success! If you missed it, Golden Ticket Home Events has set up series of free workshops to help you explore the process of selling