In this Article...
In Charleston, many homebuyers are under the impression that a 20% down payment is necessary when purchasing a home. However, Charlotte Lemon, a Realtor at Charleston Home, clarifies that this isn't always the case. Numerous programs offer significant down payment assistance, making homeownership more accessible.
The Truth About Down Payments
Some Highlights
- There’s a misconception going around that you have to put 20% of the purchase price down when you buy a home. But the truth is, many people don’t put down that much unless they’re trying to make their offer more competitive.
- And if you want to give your savings a boost, look into down payment assistance. There are thousands of programs that offer an average benefit of nearly $17,000.
- To learn more about loan options or down payment assistance programs, connect with a trusted lender and check out downpaymentresource.com.
