If you're thinking about purchasing a home this year have you wondered how other home buyers have made it happen? Are you still thinking you need a 20% down payment or that obtaining a mortgage is very difficult? Here's a great infographic from the National Association of Realtors® (NAR) from their "2017 Profile of Home Buyers & Sellers" that will dispel some of these thoughts and might convince you buying a home might be easier than you think, with:
- 88% of home buyers obtaining a mortgage to purchase
- the median down payment being 10%
- 16% of of home buyers receiving down payment assistance from families/friends
- 66% of home buyers finding the loan approval process easier than expected.
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Featured photo courtsey of realtor.com