I 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—
