Making a down payment of less than 20% is common. sturti/Getty Images

Courtesy of Business Insider ( https://www.businessinsider.com/20-percent-down-payment-rule-mortgage-homebuying )

 

• For many would-be homebuyers, saving a 20% down payment for a mortgage can be a big barrier to homeownership. Consequently, more people are buying homes by putting less money down.
• Putting a full 20% down on mortgage ensures you won’t pay private mortgage insurance and will most likely get the lowest available interest rate.
• Some real-estate agents, however, say the benefits of making a smaller down payment outweigh the consequences — it can help homeowners build wealth and equity sooner rather than later.

Putting 20% down on a home purchase is daunting, and rightfully so.

If you are thinking of buying a new home at a DR Horton neighborhood in the near future, call me now! There are some great mortgage deals out there especially in Tartesso in Buckeye, AZ! 

Call me before you start to look! As your Realtor I will not only be looking out for your best interests but I also offer an additional incentive to you – a FREE Home Warranty valued up to $500!!!

Mortgage news from my contact at DR Horton:

Are you thinking of buying a house in Peoria, AZ or the Phoenix area but don’t have enough money for a down payment? Did you know that you can get help through down payment assistance (DPA) grants? A DPA is a non-repayable grant that will help with your down payment and closing costs. Just give me a call or go to my website www.MarieShafer.com and we can discuss your path to home ownership.