The Truth About Down Payments

Infographic titled 'The Truth About Down Payments,' debunking the misconception that buyers need to put 20% down. It highlights that median down payments are 9% for first-time homebuyers and 18% for all buyers. The infographic explains that some loans require as little as 3.5% or 0% down and features stats on down payment assistance programs, with the average benefit being $17,000. Includes resources for more information.

There’s a misconception going around that you have to put 20% of the purchase price down when you buy a home. But the truth is, many people don’t put down that much unless they’re trying to make their offer more competitive. And if you want to give your savings a boost, look into down payment assistance. There are thousands of programs that offer an average benefit of nearly $17,000. To learn more about loan options or down payment assistance programs, connect with a trusted lender and check out downpaymentresource.com.

 

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