(720) 258-8275

62% of Buyers Are Wrong About Down Payment Needs | Simplifying The Market

Contrary to common misconception, a down payment is often much less than many believe.

According to the ‘2019 Home Buyer Report conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market:

“More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.”

When potential homebuyers think they need a 20% down payment to enter the market, they also tend to think they’ll have to wait several years (in some markets) to come up with the necessary funds to buy their dream homes. The report continues to say,

“The truth: 32% of current U.S. homeowners put 5% or less down on their home, according to census data.” (as shown below):

62% of Buyers Are Wrong About Down Payment Needs | Simplifying The MarketThe lack of knowledge about the home-buying process is unfortunately keeping many motivated buyers on the sidelines.

Bottom Line

Don’t let a lack of understanding keep you and your family out of the housing market. Let’s get together to discuss your options today.

Close Menu

WAIT, before you go we thought you might want this free guide…

Want to buy a home soon?

FREE GUIDE DOWNLOAD

In this free guide, we'll show you...

  • THE TOP 4 REASONS TO BUY NOW
  • WHERE HOME PRICES ARE HEADED
  • THE 5 REASONS TO BUY INSTEAD OF RENT
  • 5 TIPS FOR SEARCHING FOR YOUR NEXT HOME
Enter your email address where you would like us to send the guide:

Don't let the dream of buying a home slip away...

Buy a Home in Colorado with a Low or No Down Payment!