61 Of First Time Buyers Put Down Less Than 6

Dated: 01/17/2018

Views: 89

Image title

61% of First-Time Buyers Put Down Less than 6%

   Down Payments, First Time Home Buyers, For Buyers

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 potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying. The median down payment for all buyers in 2017 was just 10% and that percentage drops to 6% for first-time buyers.

Zillow Senior Economist Aaron Terrazas’ recent comments shed light on why buyer demand has remained strong,

“Looking into 2018, rent is expected to continue gaining. More widespread rent growth could mean home buying demands stay high, as renters who can afford it move away from the unpredictability of rising rents toward the relative stability of a monthly mortgage payment instead.”

It’s no surprise that with rents rising, more and more first-time buyers are taking advantage of low-down-payment mortgage options to secure their monthly housing costs and finally attain their dream homes.

Bottom Line

If you are one of the many first-time buyers who is not sure if you would qualify for a low-down payment mortgage, let’s get together and set you on your path to homeownership!

Contributor
Charles R Juarez Jr


Blog author image

Charles Juarez

With my expertise in reality for both buying or selling a home in San Antonio, and surrounding areas. You have found the right resource for your real estate needs. Whether you are looking for a new ho....

Latest Blog Posts

3 Reasons Why We Are Not Heading Toward Another Housing Crash

3 Reasons Why We Are Not Heading Toward Another Housing Crash  Thursday, February 21st, 2019  First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates,

Read More

New Home Experts Highland Homes At Monteverde

Your New Home Experts, please note that our services are FREE to the home buyer, so don’t let that stop you. Let us know if you are ready for the next step. I am just a phone call away, so call

Read More

2019 Will Be A Great Year For Buyers AND Sellers

2019 Will Be a Great Year for Buyers AND SellersMany homeowners believe that rising interest rates and home prices have scared away buyers and therefore have not listed their

Read More

Millionaire To Millennials Dont Get Stuck Renting A Home Buy One

Millionaire To Millennials: Don’t Get Stuck Renting A Home… Buy One!  Monday, February 18th, 2019  First Time Home Buyers, For Buyers, Millennials, Move-Up,

Read More