Ask Garden Gnomes for Help in Home Down Payment

Real Estate Agent with HomeSmart Real Estate BR632450000

OK you have been looking at homes of your dreams online and see the homes you like have multiple offers that are going to other buyers that have a larger down payment than you have. You ask the question, What can I do to get a larger down payment to buy a home?


You may have questions about home purchasing strategy and how to improve your down payment but not sure whom to ask? You could ask me as your personal Realtor "OR" you could ask the usually reliable but sometimes erratic "Garden Gnomes".


You prefer to start with the garden gnomes this time, you say? OK, OK. Your REALTOR® may be busy and the Garden Gnomes are sitting around outside in where else...your garden. 


Wisdom awaits...Ask the garden gnomes about home down payment strategy and real estate steps to purchase a home and give your REALTOR® the day off.

Ask Garden Gnomes

Walking into the garden, the Garden gnomes meditate and answer the question, "How do I get more down payment to allow me to buy a home"?


The Garden gnomes may say, "Down payment, we never make down payments for our homes, we just live in peoples back yards in holes in trees or the ground or buld a little home in bushes. They also like tall grass to hide in and holes in the wall to get out of the hot sun or cold. We would rather use money for treats, hammocks and places to take naps.

This advice from the Garden Gnomes does not really cut it as humans need a home to live in not holes in the ground and trees. OK, your Realtor will jump in here with some advice, because that is what I do.


In real estate Buyers Need More Down Payment! Sometimes it is difficult to find a home these days in Phoenix. The less than $400,000 homes are flying, here in the Phoenix metro with multiple offers and then there is the difficult to get DOWN PAYMENT. After a all one needs a 20% down payment to avoid paying private mortgage insurance also known as PMI. Yes, low down payment FHA (3.5% down) or conventional (3 to 5% down) are available but with the unpopular PMI requirement from Lenders

dream house

House dreaming but not enough down payment? Call Jeff Masich and go to Bank of Mom and Dad


Free Down Payment Grants in the Phoenix Arizona Metro Area

down payment grants

Young home buyers can ask about free grants and down payment assistance programs available in the Phoenix metro area and also ask the Bank of Mom and Dad.


A Buyer has to be ready with a prequalification from their lender to buy the home. Your REALTOR®, me, will need this to write your purchase contract and get the Seller to accept the offer. A buyer needs a down payment to qualify for a home mortgage. Mutiple Offers that come in for similar amounts leave a Seller to choose among the best and the Buyers down payment amount is often the determining factor on which offer is accepted.  Also, as mentioned at least 20% down is needed to avoid the extra Private Mortgage Insurance (PMI) charge that lenders charge on top of your mortgage payment of principal and interest if you do not have a 20% down. This can affect your purchasing power. So the proper down payment is critical.


What to do? Well call me first to start finding you the right home at the right price where you want to live. Get your prequalification from your lender or ask me for a lender to provide to you. If you don't have enough for the down payment or to avoid the dreaded PMI, your next step may be to go to the Bank of Mom and Dad for down payment assistance. Or you can ask me for some down payment assistance grants, however the Bank of Mom and Dad may be more lucrative for you the Buyer.


Bank of Mom and Dad

bank of mom and dad

Sometimes the good old Bank of Mom and Dad comes to the rescue with a gift of cash for the extra down payment...maybe to 20%. After all....they love you and may want you out on your own.


Start off with Jeff Masich to find the right Arizona Home on your DREAM LIST listed on the MLS

Homes For Sale in the Phoenix Metro on the MLS FULL PAGE view and also create here your FREE MLS SEARCH PORTAL (No Dream)


Meet Jeff Masich, Scottsdale REALTOR® 


 For more Scottsdale homes or Arizona Homes and Land for sale call Jeff Masich 480-242-6500


Scottsdale Living in the Phoenix Metro Area 

 Jeff Masich REALTOR® describes Scottsdale area living and real estate


Here is a FREE MLS Search for homes for sale in Arizona. I, Jeff Masich would be pleased to help you find Arizona Homes For Sale and the right home at the right price!

Free MLS Phoenix

          Press FREE MLS Search to search for Arizona Homes and Land

Posted by

Jeffrey Masich, Associate Broker, REALTOR®, MBA, GRI, BS Accounting


Scottsdale, Arizona




Comments (0)