{"id":2465,"date":"2018-08-22T10:00:35","date_gmt":"2018-08-22T10:00:35","guid":{"rendered":"https:\/\/thezakariagroup.com\/having-trouble-saving-enough-for-your-down-payment-crowdfund-it\/"},"modified":"2018-08-22T10:00:35","modified_gmt":"2018-08-22T10:00:35","slug":"having-trouble-saving-enough-for-your-down-payment-crowdfund-it","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/having-trouble-saving-enough-for-your-down-payment-crowdfund-it\/","title":{"rendered":"Having Trouble Saving Enough for Your Down Payment? Crowdfund It!"},"content":{"rendered":"
\n

\"Having<\/p>\n

You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home.<\/span><\/p>\n

Many couples are asking their wedding guests to contribute to their \u201cDown Payment Fund\u201d rather than fulfilling a traditional registry. This is fueled by the fact that many couples live together prior to marriage and already have the necessary items to make a house a home\u2026they just need the house!<\/strong><\/p>\n

The average wedding in the United States has 120 guests who give wedding gifts valued, on average, at $186. This means that couples could walk away from their nuptials with over $22,000 towards their down payment!<\/p>\n

Services like HomeFundMe <\/em>allow friends, family members, and almost anyone else in a buyer\u2019s network to contribute funds toward the buyer\u2019s down payment. Contributors can determine, at the time of their donation, if their gifts are \u2018conditional\u2019 or \u2018non-conditional\u2019 on the beneficiary buying a home.<\/p>\n

According to a recent Wall Street Journal<\/em> article<\/a>, \u201cabout 400 borrowers have used HomeFundMe to help buy homes since the program launched in October and on average, they raise about $2,500.\u201d<\/em> The article went on to explain that most borrowers use these funds in combination with their personal savings to shorten the time needed to achieve their goal of homeownership.<\/p>\n

There are more and more programs surfacing from lenders that allow buyers to put down as little as 3% to buy their dream home. Fannie Mae<\/em> and Freddie Mac<\/em> loan programs require 3% down payments, while FHA<\/em> programs require as little as 3.5%, and VA Loans are often approved with 0% down!<\/p>\n

Bottom Line<\/strong><\/h3>\n

Gone are the days of 20% down or no loan! If your dreams include buying a home of your own in the next year, you can get creative with your down payment savings to make it happen!<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home. Many couples are asking their wedding guests to contribute to their \u201cDown Payment Fund\u201d rather than fulfilling a traditional registry. This is fueled by the fact that many couples live […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[107,98,99,109,101],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nHaving Trouble Saving Enough for Your Down Payment? 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