What You Really Need To Know About Down Payments
June 17, 2025
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...
When purchasing a home in Charleston, many believe a 20% down payment is necessary, but that's not always the case. Often, lower down payments are acceptable, especially with the right assistance. First-time buyers might qualify for an average benefit of $17,000. For more insights, reach out to Charleston Home.What You Really Need To Know 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. Most first-time buyers qualify and the typical benefit is $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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