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How do 1st time homebuyers get the downpayment

March 11th, 2014 | 1st time home buyer, 1st time home buyer home loan, 1st time home buyer home mortgage, 1st time home buyer loan, 1st time home buyer program, first time home buyer mortgage, first time home buyer, zero down mortgage, Infographic , mortgage, home loan

According to the National Association of Realtors 2013  survey of First Time Home Buyers, the most common ways that homebuyers came up with the downpayment needed to buy a home was cutting down luxury spending. Cutting down entertainment spending was close 2nd. Below is infographic breaking down the rest of the items the buyers surveyed cut down on to make there homeownership dreams come true. Even if you are thinking about getting a zero down first time home buyers loan, it is probably very wise to start saving up some reserves to cover any moving costs or closing costs that you might incur with your big purchase. 

first time home buyer down payment sacrifices

 

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