Real Estate 2 Minute Drill

See the full video by visiting https://opgvideoblog.com/how-much-of-a-down-payment-do-you-need-in-our-market.html The largest obstacle that a renter faces when they’re considering the purchase of their first home is saving for the down payment. This challenge, of course, is only amplified by rising rents, which eat into those funds a renter has left over after paying all their normal expenses. In combination with higher rents, we also see from survey after survey that most non-homeowners believe that you have to save upward of 20% for a down payment. In fact, a recent survey from Convergys Analytics found that 49% of all renters believe they need to save at least a 20% down payment. The bottom line is this: The median down payment on approved loans last year was just 5%. With that said, if you’ve been saving for even just a little while, you may already have the down payment you need in order to purchase your first home.  --- Send in a voice message: https://anchor.fm/realdealrealestate/message