For many potential homeowners, saving enough for a down payment is a major barrier to homeownership. But, it doesn’t have to be. There are thousands of down payment assistance programs available across the country that can help make your dream of owning a home a reality, even if you’re not able to put a significant amount down.
How much do I need for a down payment?
Although the common perception is that you need to have a 20 percent down payment to purchase a home, that’s simply not the case, especially for first-time buyers. Most first-time homebuyers make a down