Coming up with the 20% down payment for a new home is daunting even for seasoned buyers. You worry you can't get on the property ladder at all or get trapped in a home you've outgrown because saving that amount in today's housing market seems impossible.
But guess what? It isn't.
Many banks and credit unions in the Boulder area are now offering as high as 97% mortgages, meaning you only have to come up with a 3% down payment. These mortgage options allow you to get into the house, pay down equity when you can, and refinance in the future. Other options allow you to avoid closing costs and mortgage insurance, lowering your total costs. Remember that though borrowing rates are higher than they were in the 2010s, they are still relatively and historically low.
Ask me if you need help figuring out your path to your next. You have more options than you think.
