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