Central Florida: 62% of Buyers Are Wrong About Down Payment Needs

Dated: 10/08/2019

Views: 12

62% of Buyers Are Wrong About Down Payment Needs

62% of Buyers Are Wrong About Down Payment Needs | MyKCM

According to the ‘2019 Home Buyer Report conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market:

“More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.”

When potential homebuyers think they need a 20% down payment to enter the market, they also tend to think they’ll have to wait several years (in some markets) to come up with the necessary funds to buy their dream homes. The report continues to say,

“The truth: 32% of current U.S. homeowners put 5% or less down on their home, according to census data.” (as shown below):

62% of Buyers Are Wrong About Down Payment Needs | MyKCMThe lack of knowledge about the home-buying process is, unfortunately, keeping many motivated buyers on the sidelines.

Bottom Line

Don’t let a lack of understanding keep you and your family out of the housing market. Let’s get together to discuss your options today.

Jayson@JaysonSellsOrlando.com | 407-476-7977

Link for the video below ⬇️⬇️⬇️⬇️⬇️⬇️

62% of Buyers are Wrong About Down Payment Needs
Blog author image

Jayson Judson

Being a REALTOR® and a New Home Co-Broker I am proud that one of my specialties is new homes, having the experience of building three homes myself gives me a unique distinction from others, I have be....

Latest Blog Posts

Central Florida : 4 Tips to Improve Your Home and Save on Your Energy Bill

4 Tips to Improve Your Home and Save on Your Energy BillAs a homeowner, it’s important to keep your home running efficiently, not only to save money, but also to help the environment thrive.

Read More

Central Florida: 5 Homebuying Acronyms You Need to Know [INFOGRAPHIC]

5 Homebuying Acronyms You Need to Know [INFOGRAPHIC]Some Highlights:Learning the lingo of homebuying is an important part of feeling successful when buying a home.From APR to P&I, you need to

Read More

Central Florida: What FICO® Score Do You Need to Qualify for a Mortgage?

What FICO® Score Do You Need to Qualify for a Mortgage?While a recent announcement from CNBC shares that the average national FICO® score has reached an all-time high of 706,

Read More

Central Florida: 62% of Buyers Are Wrong About Down Payment Needs

62% of Buyers Are Wrong About Down Payment NeedsAccording to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20%

Read More