The 20% Down Payment Myth Is Holding Buyers Back — But It Shouldn’t
Do you think you need 20% down to buy a home? Think again. That outdated belief is stopping too many first-time homebuyers in Tulsa from getting started, but Oklahoma Mortgage Group is here to change that. According to the National Association of Realtors, the median down payment for first-time homebuyers is only 9% , not 20%. Even better? Many buyers may qualify for 0 % down loan programs, such as VA and USDA loans , or low down payment options like FHA and conventional 3% programs. Even more surprising? Nearly 80% of first-time buyers qualify for down payment assistance , but only 13% actually use it . That’s a huge missed opportunity. These down payment assistance (DPA) programs can offer up to $17,000 toward your purchase. Whether you’re a teacher, firefighter, Veteran, or just starting out, there may be free money waiting to help you buy your first home. 👉 Tulsa buyers: Don’t let myths or lack of info hold you back. You may be closer to homeownership than y...