Crown Gaithersburg MD | Number of Buyers Putting Down Less Than 10% Hits 7-Year High

 

As Gaithersburg has developed over the years, many neighborhoods are now blended with one and another without any distinction or personalities.

Not in CROWN, the newest and most vibrant community in Gaithersburg MD

Located next to Rio, this new and unique neighborhood is separate in four groups

 

* Downtown Crown

* Crown West

* Crown Central 

* Crown East

 

If you are looking for city-living style with a flair of urban village, The Crown community has everything to offer and more. 

There is even a direct Metro Shuttle between the community and Shady Grove Metro Station to connect you directly with Washington DC and its surroundings,

 

Today, I would like to talk about  Number of Buyers Putting Down Less Than 10% Hits 7-Year High

 

According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months. This is great news for buyers as this marks a 7-year high.

Many mortgage programs offered by agencies like Freddie Mac and Fannie Mae allow buyers to put down as low as 3% to purchase their dream homes. The strength of the housing market has aided buyers who used low-down-payment programs to buy. As a recent CNBC article points out,

“Defaults on recent low down payment loans, so far, are slow, but that is as much a factor of the good credit quality as it is the strength of the housing market. Home prices are rising incredibly fast, meaning those borrowers are gaining equity in their homes quickly.”

Low down payments aren’t just great for first-time homebuyers. These programs have allowed homeowners who want to capitalize on the equity they have in their homes to use the profit from their sale to pay off high-interest credit cards, fund education or even start a business.

According to a new Census Report, the Annual Survey of Entrepreneurs, home equity was used to start 7.3% of all businesses in the United States, which equates to over 284,000! The industries that saw the most growth from home equity are accommodation & food services, manufacturing and, retail trade.

 

Bottom Line

Gone are the days of ‘20% down or no mortgage.’ What could you build with the equity in your house? Let’s get together today to evaluate your ability to achieve your dreams today!

 

Source.. KCM Fernando Herboso Blog

 

If you have any questions about the Crown Plaza, Gaithersburg MD, the schools, amenities or the surrounding community, don’t hesitate to give us a call at 301-246-0001 We will be happy to help you. We specialize in Gaithersburg MD and our agents also live here.

To reach us, please call 301-246-0001

Or send us an email to: info@ReallyNiceHomes.com 

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www.99SOLD.com - Call or text 240-426-5754 for more information.