Down | HomeSmart Lifestyles Blog

Thursday, June 24, 2021   /   by Diane Breard

How Much Down Payment Do You Need for a House?

You can buy a house with less than 20% down, but other factors determine the exact down payment you need.

Before you start shopping for a home, you need to know what you can afford – and a big part of that depends on how much you can afford as a down payment.

But how much down payment do you need to be able to afford the house you want? The answer isn't the same for everyone, but key information can help you determine the right amount to save, the mortgage programs to explore and other resources to consider to help you buy the right home.
What's a Typical Down Payment Amount?

Beyond being able to buy a home with cash, many lenders and consumers view a 20% down payment with a 30-year, fixed-rate mortgage as ideal.

However, the typical U.S. homebuyer is putting far less money on the table at closing. The median down payment is 12%, according to the National Association of Realtors 2021 Home Buyer and Seller Generational Trends report. Broken out into age ...

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Monday, August 3, 2020   /   by Kaitlin Delles

Steps For Downsizing Your Home!

Nothing lasts forever — including a home where you raised a family or lived most of your working life. And it’s a fact of life that suddenly, a place that was perfect for you a decade or two ago might start to feel cavernous and empty (or just contain more square footage than you really want to clean regularly).

If you’re starting to dream about trading in your rambling old house for a smaller cottage or new condo, then it’s probably time to seriously consider downsizing from your current home. Before you start shopping and put your home on the market, though, there are a few things you need to think about and discuss with any family members who’ll be making the journey with you.
CONSIDER YOUR FINANCES
It’s tempting to look up your home on a website like Zillow or Redfin and revel in how much money it’s worth today. So finances might not be top-of-mind when you’re thinking about downsizing — you may believe that you’r. ...

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HomeSmart Lifestyles
Valley Home Team
22243 S Ellsworth Road
Queen Creek, AZ 85142
Diane Breard 480-684-0055
Steven Breard 480-684-0975

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