Starting to consider purchasing a home, but wondering how much you should have ready to cover a down payment? We found this article by Realtor.com extremely help when it comes to navigating down payment expectations in this competitive housing market!

Get Smart on Down Payments

| Jan 9, 2018

 

Picking the right house is just one of the big decisions you’ll face when buying property. Deciding on the down payment is another.

Low inventory in some national markets continues to pressure potential buyers into making bigger down payments to gain a competitive edge. But the possibility of rate increases in the coming year and new rules on mortgage-interest deductions may also affect how much buyers put down.

“A lot of people are trying to come to grips with the new tax changes and how they’re going to affect mortgages,” says Jack McCabe, a housing-industry analyst in Deerfield Beach, Fla. “It will have more effect on the upper end of the market when it comes to down payments and possibly the sales pace as well.”