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

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

     An article featured in the MReport a while back, reported that a large percentage of young, first-time potential home buyers 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 down payments 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.


     Because much of what these first-time, young potential home buyers believe is ...
Don't listen to the noise or static around you.




      ...  regarding the monies needed for down payments.  

     It's just plain WRONG for homebuyers to think that lower down payment 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 down payment saved.  There are!  (For more helpful first-time home buying 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 down payment 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 nowDon'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 down payments:  Sometimes it's good to find out you're wrong ... 

     *  Hoping to Buy or Refinance a home in the Chicago area?  Contact Me Today!  I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf.
     I'm easily found at:

Gene Mundt

Mortgage Originator  -  NMLS #216987  -  IL Lic. #031.0006220  -  WI Licensed

American Portfolio Mortgage Corp.
NMLS #175656

Direct:  815.524.2280
Cell/Text:  708.921.6331
eFax:  815.524.2281

Gene Mundt, Mortgage Originator, an Originator with 40+ 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 & WI.

Your Referrals are Always Welcomed & Appreciated!













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