Saving for a down payment is one of the biggest obstacles first-time home buyers face. While repeat buyers can use the sale of their home to help fund a down payment on a new house, first timers have to save from scratch. And this can be difficult when also facing hurdles like higher rent payments and student loan debt. But, like everything real-estate related, location matters. In fact, according to a new analysis, saving a down payment for an entry-level home is much easier in some locations than others. For example, after factoring the median household income among millennials and their estimated annual savings, the analysis determined that a first-time home buyer could save for a 20 percent down payment in under five years in 10 major cities, including Chicago, Dallas, Baltimore, St. Louis, Austin, and Washington DC. Of course, the time it takes to save a down payment is longer on the West Coast, where home prices are higher. But considering the fact that a 20 percent down payment is not a requirement, even in pricier areas saving up enough to buy a home is not an unattainable goal. Buyers in Eastern, NC, have many different programs to choose from for down payments and this has made it much easier for them to be able to get a home. This area has built many new homes and with these programs in place, the homes are selling and people are able to get more of the features they are wanting. To see some of the homes available go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. More here.

Saving A Down Payment May Be Easier Than You Think 

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