Many homebuyers mistakenly think they must have a 20% down payment ready before they can consider buying a home. However, there are many ways to secure a home without putting up a hefty down payment. Some down payment myths that homebuyers mistakenly believe include the following:
Myth 1: I must pay a 20% down payment.
Myth 2: My down payment has to be all my own money.
Myth 3: Down payment assistance programs are only for first-time homebuyers.
Myth 4: Down payment programs are only available in big cities.
Myth 5: Down payments are always required.
Thank you to Academy Mortgage for information above....