Nearly 60 Percent of New Home Buyers Rely on Low Down-Payment Mortgages

Highly regarded housing consultant.  John Burns Real Estate Consulting, recently released a survey of home builders regarding the type of financing their buyers’ used.  The survey states that almost 60 percent of new home buyers relied on low down-payment mortgages from the government.  

20 percent of buyers used conventional financing, 7 percent got a jumbo loan and 7 percent of buyers paid cash.

Other important facts that were included in the survey was that the total of unsold finished inventory has dropped and sales are slow, particularly among builders who do not have a lot of appeal to first-time home buyers.

For more great information go to Look What $334,000 Buys You in Hoboken.

As a top Hoboken REALTOR, I can help you through the entire process of buying your first home. If you are looking for assistance in finding the perfect home in Hoboken, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.

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