Saving for a down Payment on a Home

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Contact:
Mike & Debbie Murdock
Brokers/Owners
EXIT Realty Pro in Canton
903-567-7777
Mike@EXITRealtyPro.com

Saving for a down Payment on a Home

Canton, Texas (Grassroots Newswire) 2/5/18 – According to data from the National Association of Realtors(NAR), most home buyers purchased their home with a down payment of 6% or less.  A lot of first time home buyers believe that they must be able to finance a 20% down payment to buy a house. However, according to the NAR, since the current median existing single-family home price is $254,000, this makes the national median 6% down payment $15,240.

There are several simple ways to save for a down payment on a home, such as refinancing current debts, cutting back on student loan payments, or even having a garage sale.

Agent Debbie Wold says, “I usually always recommend to my clients to save 6% for the down payment of the house. There are also some zero down payment options such as VA loans or USDA loans that can be worth looking into.”

Sources: www.nar.realtor.com www.usnews.com

For more information about EXIT Realty Pro, please call 903-567-7777. EXIT Realty Pro is located at 1445 S. Buffalo, Canton, TX 75103.

Sources: www.nar.realtor

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