By ERIN FLYNN JAY
If you are looking for a home and don’t have 20% to put down, you are not alone.
According to the National Association of Realtors, the typical down payment for first-time buyers is 8%. For repeat buyers, it’s 19%.
And for 38% of first-time buyers, saving for a down payment was the most difficult step in the process.
Sean Moss, EVP of product and operations at Down Payment Resource, says there is no one right answer to the question of how much money to put down when purchasing a home. It’s dependent on the buyer’s financial situation, as well as the loan type they plan to use.
“It’s a common misconception that 20% down is the…
By ERIN FLYNN JAY
In recent years, cities in warmer weather states have boasted the nation’s hottest housing markets but now the spotlight is on one of the snowiest places in the country.
Last month, Zillow released its annual predictions for the hottest housing markets of 2024. Buffalo, NY, took spot number one based on its affordability.
The predictions are based on an analysis of home value growth, recent housing market activity, projected changes in the labor market, home construction activity, and the number of homeowner households in the top 50 metropolitan areas according to population.
Buffalo makes homeownership a real possibility, especially for younger generations looking to purchase their first home. The average home price came in at $248,445,…
