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Down Payment Costs Rise by 15% Annually: Here’s How to Keep Yours Low

Blog posted On September 06, 2024

According to Redfin, home buyers are now putting down an average of $67,000, which marks a nearly 15% increase compared to a year ago. This put the typical home buyer’s down payment at a whopping 18.6% of the purchase price, the highest level in over ten years. With this recent surge, prospective homeowners, realtors, and lenders alike are all wondering what this means for the future. And how can we still succeed in the home buying market despite record highs?

HomeFundIt: An Easier Way to Fund Your Down Payment

Blog posted On June 30, 2022

Did you know that saving for a down payment is one of the biggest obstacles potential homeowners face? Many buyers who can afford a mortgage struggle to buy a home because of the upfront costs like a down payment. For some, saving for a down payment takes years – especially when home prices are high. With HomeFundIt™, home buyers can buy their home sooner with a larger down payment.

Government-Backed Mortgages Explained

Blog posted On November 18, 2021

The extensive list of different home loans can be overwhelming, especially for first-time buyers. FHA, USDA, VA – the acronyms can get confusing.  But they’re worth understanding because they could help you save thousands of dollars on your mortgage.

9 Loan Programs for First-Time Home Buyers

Blog posted On October 28, 2021

Saving for the down payment is one of the biggest hurdles for first-time home buyers. But with the help of low down payment loan programs and down payment assistance, you can be home sweet home in no time.

What is Down Payment Assistance and How Can it Help?

Blog posted On September 30, 2021

One of the biggest hurdles for first time home buyers is saving for a down payment. When you buy a home, you pay a lump sum of money upfront – known as the down payment. The amount you put down is generally up to you, depending on your credit score and other qualifying factors. On average, first-time home buyers make down payments of around 6% of the loan amount. For a typical starter home of $148,527, this would be $8,912. Saving nearly $9,000 isn’t easy for most first-time buyers. But there are several options that can help you reach that goal.