If you’re saving up to buy your first home, you might have heard you need twenty percent of the home price for your down payment. But here’s the truth. That’s not necessarily the case in the Arlington- Fort Worth areas. Unless specified by our preferred lenders, you don’t always need to put that much down.
Today’s median down payment is less than twenty percent. In fact, it’s only fourteen percent when you take the average for all buyers. And it’s even lower for first-time buyers at just six percent. The big takeaway? Don’t let this myth be a barrier to achieving your dream of homeownership.
If saving for a down payment still feels like a challenge, know there are over two thousand assistance programs in the U.S. And the majority are intended to help with down payments.
If you wanna purchase a home in the Arlington- Fort Worth area this year, let’s connect because you may be closer to your savings goal than you think.
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