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Found 3 blog entries tagged as Down Payment.

Buying a home is often one of the most expensive endeavors one will take throughout their life, so it’s not surprising that saving for a down payment remains a major hurdle for many Floridians on their path to homeownership. But although a 20 percent down payment is considered ideal, it’s not actually as common as you might think, nor is it a necessity to buying a home.

The majority (52 percent) of buyers put down less than 20 percent on their new home.

Typically, you have to put between 3 and 20 percent of your home’s sale price down in cash to qualify for a conventional loan (30-year fixed mortgage), but there are exceptions. If you meet eligibility guidelines, you might qualify for a home loan with a  zero-down payment through Veterans Affairs

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20 percent down payment modern home exterior at sunset

Paying careful attention to these four numbers will make the difference in landing your dream home.

If you're serious about buying a home, understanding your finances is a crucial first step.

When deciding to purchase a home, the list of things to consider can be daunting. While you might be comparing square footage, finishes, and neighborhoods, mortgage lenders are looking at specific numbers that make up your financial picture with the same discerning eye.

You might be eager to look at homes online, or even swing by a few open houses, but without getting your finances in check, your offer could be the last to the table. Sitting down with a lender and getting pre-approved for a loan puts you in a strong position and will make your

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How Long Does It Take To Save A Down Payment? | Keeping Current Matters

In a recent study conducted by Builder.com, researchers determined that nationwide it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.

Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage a renter spends on housing in each state and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.

According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:

Years Needed to Save 10% Down | Keeping Current Matters

What if you only needed to save 3%?

What if you were able to take advantage of one

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