More Colorado homebuyers taking advantage of Down Payment programs
Posted by West + Main Homes on
A huge down payment might not be necessary to purchase a Colorado home.
One of the most frequent things we hear as Real Estate professionals helping first-time homebuyers to purchase Denver area properties is the misconception that a 20% down payment is required to obtain a home loan. In fact, the majority of homebuyers needed much less cash in order to purchase their Colorado property.
A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the last several months.
The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with home purchases in 2016.
And an article by DS News points to…
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