Skip To Content
    • Home
    • news
    • Nearly ¾ of First-Time Buyers Put Down Less Than 20 Percent When Buying Their Home

    Nearly ¾ of First-Time Buyers Put Down Less Than 20 Percent When Buying Their Home

    Many potential buyers think that in order to buy a home, you need to have 20 percent of the purchase price saved to cover a down payment. But in 2021, the majority of buyers are successfully closing on their homes with less.

    According to the most recent REALTORS® Confidence Survey, in January 2021, nearly ¾ of first-time buyers (74 percent) put down less than 20 percent when buying their home. And it’s not just first-time buyers that are putting down less cash up front; more than half of all buyers (52 percent) successfully purchased a home with a down payment of less than 20 percent.

    The Takeaway:

    So, what does that mean for you? In today’s market, the majority of buyers are purchasing homes with less than 20 percent down. If you’ve been holding off on buying a home because you thought you didn’t have enough saved, now could be a great time to reevaluate your finances—and see if buying a home with a lower down payment is the right move for you.

    The post Nearly ¾ of First-Time Buyers Put Down Less Than 20 Percent When Buying Their Home appeared first on Lighter Side of Real Estate.

    Comments are closed.

    About our blog

    +1 us on Google Plus!

    Categories