Buying a home doesn't have to mean a daunting down payment hurdle. Data from the National Association of Realtors reveals that today's median down payment sits at 15%, dropping to 8% for first-time buyers. Some qualified buyers even put down less. Loan types like FHA offer 3.5% down payments, and options like VA and USDA require no down payment for eligible applicants. There's a vast array of down payment assistance programs available, with 75% of them specifically aimed at aiding buyers. These programs cater not only to first-timers but also to repeat buyers, offering accessible options regardless of where you are in your homeownership journey. A trusted real estate professional serves as the ideal starting point to explore these resources, including specialized programs for certain professions or communities.
Numerous programs, such as Teacher Next Door and initiatives by Fannie Mae and Freddie Mac, target specific groups or demographics, making homeownership more attainable. Even if you don't qualify for these programs, federal, state, and local options abound. A real estate professional can help navigate these options, ensuring you find the support that aligns with your needs. The dream of homeownership may be more feasible than anticipated, especially when tapping into the right assistance. Reach out, to uncover these available resources and smooth the path toward your homeownership aspirations.
Down Payment Resources:
https://downpaymentresource.com/
