62% of Buyers Are Wrong About Down Payment Needs

By
Real Estate Agent with REMAX Realty Group Lic. # SL3154233

According to the ‘2019 Home Buyer Report conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market:

“More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.”

When potential homebuyers think they need a 20% down payment to enter the market, they also tend to think they’ll have to wait several years (in some markets) to come up with the necessary funds to buy their dream homes. The report continues to say,

“The truth: 32% of current U.S. homeowners put 5% or less down on their home, according to census data.” (as shown below):

first time home buyers assistance

The lack of knowledge about the home-buying process is unfortunately keeping many motivated buyers on the sidelines.

Bottom Line

Don’t let a lack of understanding keep you and your family out of the housing market. Meet with a local real estate professional: "Abby Stiller" who can show you your options today.

She can be reached at: 239-284-8637 - Tambien Hablo Espanol

Posted by

 

Abby Stiller 

Realtor® Lic. #3154233    

12 Years of Experience

RE/MAX Realty Group    Cape Coral Fort Myers Naples  Realtor Cape Coral      

 

I help Home buyers find their dream home & Homeowners sell for more. Thinking of buying or selling? Call/Text me: 239-284-8637   Your Honest & Dedicated Realtor!

or visit: www.TeamStiller.com

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Will Hamm 10/19/2019 02:40 PM
Topic:
Home Buying
Location:
Florida Lee County
Tags:
first time home buyer
fha loans
downpayment assistance
local realtor
conventional loan with 3

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Rainmaker
3,283,994
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Excellent point...the longer you waste time paying rent...the more prices escalate...and there are sooo many loan programs available today ...Buyers need that education.

Oct 11, 2019 04:16 AM #1
Rainmaker
3,227,535
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Great information Abby Stiller on this subject.  Most people do not know if they are first time buyers!

 

Oct 11, 2019 08:21 AM #2
Rainmaker
439,518
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Thanks Sally K. & David L. Hanson Buyers need our help guiding them with all the buying process. Have a great weekend!

Oct 11, 2019 02:37 PM #3
Rainmaker
439,518
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Thank you Will Hamm Enjoy your  weekend!

Oct 11, 2019 02:41 PM #4
Rainmaker
3,393,460
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Abby- - -the lack of understanding leads to confusion.  It's best to make things as clear as possible.  For everyone. 

Oct 11, 2019 03:43 PM #5
Rainmaker
439,518
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

That's right Michael Jacobs Hope you are having an awesome weekend!

Oct 12, 2019 04:05 PM #6
Rainmaker
3,839,803
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good afternoon @abby stAbby Stiller ,

I'm glad that Will Hamm re-blogged your post as I missed it and it is certainly worth the read. It is good for buyers to have a clear picture of what their down payment needs are and  need guidance.                                     

Oct 19, 2019 03:07 PM #7
Rainmaker
439,518
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Hi Dorie Dillard CRS GRI ABR Thank you for reading my post . The more information buyers get the better for them to understand the whole process and what's the best option for them.

Take care, sending you a BIG hug. 

Oct 19, 2019 06:54 PM #8
Rainmaker
693,307
Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

I read your post on a reblog just wanted to stop and leave a comment. Thanks for sharing, I hope you have a great afternoon.

Oct 22, 2019 09:39 AM #9
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Rainmaker
439,518

Abby Stiller

Professional Bilingual Realtor (239) 284-8637
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