How Much Do I Need as a Downpayment to Buy a House in Villages of Urbana?
How much of a downpayment do you actually need to buy a home in the Villages of Urbana Frederick MD
If you are looking for a home Let us share a secret with you. When someone becomes a professional real estate agent, they make a commitment to their clients from the moment they first connect, whether it is, first-time homebuyer's, who are very excited to purchase their very own home.... or seasoned Investors who are trying to build equity with key purchases and increase their portfolios. What is important for you to know is that your main purpose is to find the right real estate professional that will dedicate time and energy to bring exactly what you are looking for. Take your time and pick the one that has that commitment deep in their hearts.
To show this commitment to my clients, We bring the latest technology, know-how and information allowing me to bring the best possible outcome on every real estate transaction we perform.
Today, I would like to talk to respond to the question
How much do you really need as a downpayment to buy a house?
A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the month of January.
The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with findings from December.
An article by DS News points to the new wave of millennial homebuyers:
“It seems that the long-awaited influx of millennial home buyers is beginning. Ellie Mae reported that mortgages to Millennial borrowers for new home purchases continued their ascent in January, accounting for 84 percent of closed loans.”
Among millennials who purchased homes in January, FHA loans remained popular, making up 35% of all loans closed. Ellie Mae’s Executive Vice President of Corporate Strategy Joe Tyrrell gave some insight into why:
“It is not surprising to see Millennial borrowers leverage FHA loans because they typically offer lower down payments and lower average FICO score requirements than conventional loans. Across the board, we’re continuing to see strong interest in homeownership from this younger generation.”
If you are one of the many millennials who are debating a home purchase this year, let’s get together to help you understand your options and set you on the path to preapproval.
If you want to find the best house for the money in Villages of Urbana….
This is what we can do for you,
We will prepare you a list of houses that fit your criteria and take the time to show all these houses to you, with no pressure and no hassle.
So please let us know when you are ready to get started
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Please call us at 301-246-0001
Or text to 240-426-5754
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