In this Article...
In the Chicago area, many prospective home buyers believe a 20% down payment is necessary, but this isn't always the case. Harty Realty Group, specializing in guiding buyers, suggests exploring various down payment assistance programs, which can offer significant financial benefits, averaging around $17,000.
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.
