Perception and reality can often be very different.
This is especially true in the homes market with a commonly held expectation that first time buyers need to find 20% of the value of their desired residence.
Well if that's been your perception, we're so happy to kindly suggest that you think again!
A recent survey unveiled that two thirds of first time buyers paid 5% or less!!!
As the housing market steadily improves, low down payment mortgages are making a comeback, through a wide range of innovative finance products and well established Government backed programs. Indeed, in certain individual situations it's even possible that you won't need to put any money down at all!
And when you factor in that mortgages are still near to historic lows, you might well be asking yourself what is stopping you from achieving The American Dream and becoming a home owner.
Of course if you can afford to make a sizeable down payment then the larger your stake in your home from the get go and you'll also pay less per month. It's all a matter of getting the right advice for you and weighing up all the pros and cons.
As always with home purchase, every buyer's circumstances are different. At Everest Peak Realty, we specialize in finding the perfect solution for the rookie home owner, so why not contact us today - it could easily be the smartest call you'll ever make!
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