Down Payments at 3-Year Low for First-Time Home Buyers

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Real Estate Agent with Remax Excellence - Silver Spring, MD Maryland #318884

Down payments on homes for sale in Silver Spring, MD have fallen to a three-year low.  Currently, the median down payment is 9 percent for first-time home buyers.  As low as this figure is, it's still much higher than it was during the housing boom when about half of all first-time buyers made no down payment.

After the housing crash, mortgage lenders tightened lending standards making it significantly harder to qualify for a home loan.  As a result, first-time home buyer programs allowed funds to come a variety of the following approved sources:  Continue Reading Down Payments at 3-Year Low for First-Time Home Buyers

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Buyer Information - What Buyers Need to Know in Today's Market
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Emcee M. Arah

Realtor w/Architectural Dimension, AHWD CRS B-Arch
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