Sanchez Team
The Sanchez Team

11112 NE Halsey Street
Portland, OR 97220

Flourishing by referrals
since 1979

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News

 

Down Payments are Shrinking

 .

Putting at least a 20% down payment on a home used to be considered the standard. Not any more. Thanks to the great variety of loan choices available today, and some creative financing techniques, many home buyers are able to purchase their homes with a much smaller investment. In fact, the National Association of REALTORS reports that most first-time home buyers put less than 10% down on their homes.
If you are struggling to put together a down payment for your dream home, we hope you’ll give us a call. We’ll refer you to proven lenders who can pre-qualify you for a loan. You may be surprised to find out how little cash you really need to purchase the home you’ve been longing for.

Down Payment        First-Time Buyers

More than 50%                            6%

40% to 49%                                1%

30% to 39%                                2%

20% to 29%                                10%

10% to 19%                                12%

1% to 9%                                    27%

0%                                              42%

 Source: National Association of REALTORS

 


 

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