According to the Nerdwallet ‘2019 Home Buyer Report’, many (62%) first-time home buyers believe the myth that a 20% down payment is needed to purchase a home.

This common misconception causes home buyers to wait longer to enter the market – it could even delay the purchase of their dream home by several years (in some markets)! Unfortunately, many motivated buyers are sitting on the sidelines.

62% of Buyers Are Wrong About Down Payment Needs | Simplifying The Market

According to the report, the truth is that 32% of US homeowners actually put down 5% or less!

Key Point

Don’t let this common myth keep you out of the housing market game. Talk to us and let us discuss your options today!