Go Around The Downpayment Barrier
If you want to buy your first home but have not yet been able to, chances are it’s the downpayment requirement that’s stopping you.
According to the National Association of REALTORS®, the lack of downpayment savings is the biggest barrier to homeownership for many buyers.
It can be a challenge saving money when you’re paying monthly rent. Fortunately, there are ways to speed up the process by borrowing some or all of the required money down.
Fortunately, many loan programs today require a small downpayment, or none at all, making it even easier to raise necessary funds. Low-downpayment programs include the zero-down USDA loan and 3.5 percent down FHA mortgage.
When you still come up short, financing a…