2 Myths Holding Back Home Buyers

There are some myths being told that are holding back home buyers. Freddie Mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.” Their research revealed that, “For many prospective homebuyers, saving for a down payment is the largest barrier to.

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Myth #1: “I Need a 20% Down Payment” Buyers often overestimate the funds needed to qualify for a home loan. According to the same report: 22% of renters and 31% of homeowners believe lenders require 20% or more of a home’s sale price as a down payment for a typical mortgage today. And,

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Freddie Mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.” Their research revealed that, “For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership. Part of the challenge for those planning to purchase a home is their perception of how much they will need to save. 2 Myths Holding Back.

The loan facility is.2 myths holding Back home buyers 2 myths Holding Back home buyers. freddie mac recently released a report entitled, "Perceptions of Down payment consumer research." Their research revealed that, "For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership.

Myth #1: "I Need a 20% Down Payment". Fannie Mae’s survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. Many believe that they need at least 20% down to buy their dream home, but many programs actually let buyers put down as little as 3%.

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2 Myths Holding Back Home Buyers Melissa Field June 13, 2019 Freddie Mac recently released a report entitled, "Perceptions of Down Payment Consumer Research." Their research revealed that, "For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal.