Downpayments: Sometimes It's Good to Find Out You're Wrong

Downpayments: Sometimes It's Good to Find Out You're Wrong ...

 
     A recent article featured in the MReport, reported that a large percentage of young, first-time potential homebuyers believe they need a large downpayment to buy a home.  

     The article said that the average first-time homebuyer surveyed in a Zelman & Associates research study incorrectly believed that Mortgage Lenders demanded minimum downpayments of 11% to 15% to be made in order to obtain financing to purchase a home.  

     Now this isn't the first time I've seen articles and stats of this nature.  Nor is this the first time I've written in response.  Admittedly, these stats and articles frustrate me.

     Why?  

     Because much of what these first-time, young potential home buyers believe is ...

                                  Wrong!  Wrong!  Wrong!     

      ... regarding the monies needed for downpayments.  

     It's just plain WRONG for homebuyers to think that lower downpayment financing options don't exist.  They do! 

     One More Time.  Let Me Repeat ...

     It's WRONG ... if you're thinking there aren't options available for you to consider, should you have a smaller downpayment saved.  There are! 

     (For more helpful first-time homebuying info, read:  What are the Requirements to Qualify for a Home Loan Today?   and ...  Mortgage Anatomy 101 ... the Current Mortgage Process, Part 1.

     In some circumstances, there are even 0% downpayment programs  (VA, USDA, etc.) available for consideration ... and downpayment assistance programs available.  (State, County, local municipalities, etc., depending on current availability.  You must fulfill the requirements set forth under the guidelines of each program.)

     Please Take Note of this important info.  If you truly hope to buy in the Chicago-area/IL ... let's talk now.  Don't let 2nd-hand information or info that is WRONG deter you from making your simple inquiry.  Get the facts as they pertain to YOU.

     Make a call.  Email, contact me, text  ... or stop by my office.  You may find that when it comes to Downpayments:  Sometimes it's good to find out you're wrong ... 


     *  Hoping to Buy, Build, or Refinance a home in the Chicago area?  Contact Me Today!  I'll put my 37 years of Mortgage experience and expertise hard to work on your behalf.     
I can be easily found at:
Direct:  815.524.2280
Cell/Text:  708.921.6331
eFax:  815.524.2281
gmundt@goapmc.com
www.genemundt.com

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Gene Mundt, Mortgage Lender, a Lender with 37 years of mortgage experience, will offer you exemplary mortgage service and advice when seeking:  Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans in Chicago and the greater Chicagoland region, including:  The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Naperville, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL.