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.
According to the report, the truth is that 32% of US homeowners actually put down 5% or less!
Don’t let this common myth keep you out of the housing market game. Talk to us and let us discuss your options today!