Ramblings of a Baltimore area Realtor: You Don’t Need 20% to Put Down to Buy a House

You Don’t Need 20% to Put Down to Buy a House

You Don’t Need 20% to Put Down to Buy a House

If you were going to rent an apartment or a townhouse you would need at least first and last month’s rent in order to move in.  

The reality of home ownership is that it is possible to buy a home for as little as $1000 of your own money and have 2 month’s mortgage payments in the bank.  

There are a number of down payment assistance programs, both in the form of grants and no interest no payment loans that will help you with the down payment.  With an experienced real estate agent representing you, you can ask the seller for up to 6% of the purchase price in closing help and for a little bit of a bump in the interest rate the lender can also contribute towards your closing costs.  

There are programs in almost every county in Maryland to help you get into a home of your own.

With the right team in place it is possible for you to purchase your own home for what you would pay in rent or less.  Your dollars will go a lot further purchasing a home than they will renting.  


If you are thinking of buying or selling an home in  Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into todays market.  Remax New Beginnings and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad.  Ask me how.

June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP

Remax New Beginnings

City Living Expert

 

 

 

 

 

 

June Piper Brandon - Agent with Century 21 New Millennium

June Piper Brandon - Agent with Century 21 New Millennium

Comment balloon 4 commentsJune Piper-Brandon • April 07 2017 05:51PM

Comments

Hi June - thank you for this information.  It is very useful for new homeowners.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 20 days ago

You make a good point, June.  Renters often don't think about the amount of upfront money it takes to rent.  Nor do they realize that a down payment can often be less than 20%.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 20 days ago

This is very good information to share with prospective home buyers.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 18 days ago

You just need to go to financial resources and do your homework. Everything falls more into place

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) 14 days ago

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