45% of People Surveyed believed that you need At Least 20% down to purchase a home.—-Bankrate Money Pulse Survey

alpharetta mortgageI almost Fell out of my Chair!  That means that almost half of Americans, that are not home owners,  believe that they need a 20% down payment to purchase a home?  Here are some statistics from NAR(National Association of Realtors):

  • 6% average down payment for 1st time buyers – NAR
  • 14% average down payment for Repeat Buyers – NAR
  • 10% average down payment for All Buyers – NAR

What does this mean?  We need to inform everyone in our spear of influence that home buyers can purchase a home with as little as a “0” Zero Percent down.  Here are the programs and their minimum down payments:

  • 0% Down, USDA Loan(has income and location restrictions)
  • 0% Down, VA Loan(Must be a Veteran)
  • 3.5% Down, FHA Loan
  • 5% Down, Conventional Financing

Remember, To Build Credibility and Trust with our Clients, that;
“Value comes in the form of information and assistance.  You want to establish a position where people see that you know what you’re doing and are helpful…The point is to make yourself useful and valuable.”
—Guy Kawasaki—