Many studies about saving for a down payment automatically factor in 20 percent down as the standard. But, most first-time homebuyers don’t put down anywhere near that amount. In fact, the median down payment for buyers younger than 37 was just 7 percent, plus many loans and homebuyer programs offer much lower down payment requirements. keep reading
We know, saving for a down payment can be the most difficult part of home buying, especially for first-timers who don’t have the proceeds from a previous home sale to help with their down payment.
You may already be saving for retirement through your 401K or IRA. If it’s your biggest source of savings, you may be tempted to borrow from yourself to get that down payment now. But, should you? keep reading
When you’re saving to buy a home, you want it to go as quickly as possible. Right? But, based on your current salary, how long will it really take you to save for that down payment? Realtor.com analyzed how long it would take 12 different professions to save for a 20 percent down payment on a $275,000 home. keep reading