Do You Need 20% Down To Purchase a Home?
Here’s what you need to know about down payments in our current market.
Do you need 20% down to purchase a home? There are certainly many benefits to putting 20% down, but it might not be necessary depending on your situation. Our housing market has been white-hot over the last few years; if a big down payment is keeping you from taking advantage, it could be time to consider other options. Today I want to cover both the benefits of putting 20% down and when it’s time to consider a lower down payment.
You can listen to my full explanation in the video above, or you can skip to each topic using the timestamps provided:
0:01 — Introduction
1:45 — Benefit No. 1 of putting 20% down: Your interest rate may be lower
3:22 — Benefit No. 2: You’ll pay less money over time
3:55 — Benefit No. 3: Sellers will take your offer more seriously
5:15 — Should you buy if you can’t put down 20%?
6:26 — Call my team to find out what option is best for you
As always, if you have any questions about today’s topic, just call or email my team. You can also schedule a free consultation; just click on my Calendly link here to set up an appointment. Don’t forget to like and subscribe to my channel as well. I look forward to hearing from you!
The process of buying a home can be overwhelming at times, but you don’t need to go through it alone.
You may be wondering if now is a good time to buy a home…or if interest rates are projected to rise or fall. The free eGuide below will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.
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It’s difficult to know when is the best time to sell, or how to get the most money for your house, but you don’t need to go through the process alone.
You may be wondering if prices are projected to rise or fall…or how much competition you may be facing in your market. The free eGuide below will answer many of your questions and likely bring up a few things you haven’t even thought about yet.
Simply fill out the form here to receive your copy of the eGuide, and feel free to get in touch if you have any questions.