There are many potential homebuyers, and even sellers, who believe that they need at least a 20% down payment in order to buy a home or move on to their next home. Time after time, we have dispelled this myth by showing that many loan programs allow you to put down as little as 3% (or 0% with a VA loan). Click the link to read the full post: https://goo.gl/xvZ9sQ
I share with my sellers to ballpark 2% of purchase price for closing costs and of course for VA buyers to understand the VA funding fees. It typically ends up between 1.5% and 2.5% unless they are all cash.
Michael Steber
Libertyville, IL
You got the point, Michael Steber - many buyers still believe that they need at least 20% down payment which they may not have!
And closing costs are on top of that! Which again is a myth, I should say.
Michael Steber
Libertyville, IL
Great post and comments! This seems to be the number 1 myth that borrowers have. It can be discouraging until someone comes along to set the record straight. Thanks Michael for the insightful post!
Myra
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