Is a 20% Down Payment Really Necessary To Purchase a Home?There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In
Millennials Need To Know More About Home Buying
Dated: January 12 2016
Marketwatch also tackles why first-time buyers are staying on the sidelines, profiling a college-educated millennial perfectly content with renting. However, she also confessed there’s much she doesn’t know - it’s simply not a priority right now. Chrane highlights that these young, first-time buyers are the ‘missing-link’ to housing’s recovery. Most of this waiting stems from a lack of basic education about home buying, he said. Fannie Mae found that only 23 percent of its survey respondents were familiar with low-down-payment programs. Even fewer are investigating how home ownership programs like grants, forgivable loans and tax credits that can make buying a home more affordable.
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