Your Buyers May Not Realize 20 Percent Down is Not the Norm
Mortgage rates are slowly and steadily rising. These current market conditions make buying a home particularly attractive in today’s market. Homeownership has always been viewed as one of the central pillars of the American dream and, because your home is often your largest asset, it can be an incredible means for creating greater stability, wealth, and financial security. However, there’s a common misconception among many prospective homebuyers and investors that banks require a 20 percent down payment in order to finance a real estate purchase. You may not need 20 percent down to qualify for a mortgage.