http://CBStagecoach.com/blog/archive_201909/sort_entrydatetime-desc/ In the race to home ownership, many people speed past the mortgage broker and zero in on what home they think they can afford based on a 20 percent down payment.But did you know that a large percentage of people who are buying a home this year do not put 20% down?It feels like one of the biggest secrets in real estate, but at Coldwell Banker D’Ann Harper, Realtors® we love shouting this news from the rooftops.Several factors over the last 10 years have dramatically changed how people finance their home: low interest rates, greater availability of mortgage products and a higher rate of mortgage loan approvals.That’s great news if you are in the market to buy your first home. First-time homebuyers account for about a third of all homebuyers according to the National Association of Realtors.Nearly three quarters of first-time homeowners and half of existing homeowners did not put 20 percent down. In fact, the average down payment, according to the National Association of Realtors, was just 6%. Many of them took advantage of low or no money down mortgage products like these.FHA Loan (3.5% down payment)HomeReadyTM Mortgage (3% down payment)Conventional 97 (3% down payment)USDA (No down payment)VA (No down payment)To learn more about how a low or no down payment mortgage can affect your purchasing power, contact one of our trusted mortgage advisors.Source consulted but not included: https://themortgagereports.com/17670/7-mortgage-loans-low-no-zero-downpayment-buyers-2015Zillow press release: http://zillow.mediaroom.com/2018-12-14-Millennial-Home-Buyers-Most-Likely-to-Put-Less-Than-20-DownColdwell Banker D’Ann Harper, REALTORS®  can be reached at (210) 483-7581 or pr@cbharper.com and has been an affiliate of the Coldwell Banker franchise system for over 30 years. Visit our Blog and our social media channels [Facebook,Instagram, Twitter, Pinterest, LinkedIn,YouTube] for supportive content and articles.All data and information provided on this blog is for informational purposes only and shouldn’t be seen as legal advice at any point. Any facts provided on blog.cbharper.com is accurate and true to the best of the author’s knowledge and it makes no representations as to completeness, suitability, or validity.  All information is provided to author on an upper management approval basis. Coldwell Banker D’Ann Harper, REALTORS® and its employees will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Author may keep updating old posts on a regular basis and is not bound to explicitly state all corrections made. The opinions expressed by those providing comments to the posts are theirs alone, and do not reflect the opinions of the company or any employee thereof.  http://CBStagecoach.com/blog/73/20-percent-or-bust?-not-so-fast/ Fri, 13 Sep 2019 11:39:56 -0600