The Truth About Down Payments
December 20, 2024
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.
In this Article...
In Charleston, SC, many prospective homebuyers believe a 20% down payment is mandatory, but this isn't always the case. At Charleston Home, we highlight that numerous buyers put down less to enhance offer competitiveness. Explore down payment assistance programs, which can provide substantial financial benefits.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.
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