July Newsletter

Tackling Home Financing and Down Payment Misconceptions

Despite headlines about all-cash buyers, most homebuyers use financing—74% of primary residence buyers and 91% of first-time buyers. A key question is: how much do they put down? Many think 20% is required, but first-time buyers typically put down just 6–9%. Since 1989, it’s never topped 10%. Repeat buyers, with more home equity, put down 23% on average last year—up from 13% in 2014. Knowing the real numbers helps buyers plan better. Still, 97% of agents say clients rely on advice from family—often misinformed—rather than professionals. Facts matter.

Quote of Month-

Rest is not idleness, and to lie on the grass under trees on a summer’s day, listening to the murmur of water, or watching the clouds float across the sky, is by no means a waste of time.

-John Lubbock