I was pretty excited when I saw this article by Yahoo Homes, since it mentions my home state! Did you know that:
“Millennials are flocking to areas such as Montgomery County, Tennessee, where the average down payment is just 11 percent.”
Woo! Way to go, Tennessee! If you’re in that area and want to take advantage of low down payments, now is the time to buy! Saving up for a down payment can be the hardest part of obtaining a home- that’s a lot of money. Here’s more info if you want to know where to go:
In 25 counties with the lowest median home prices, the typical money put toward purchase added up to 12 percent of the price. Conversely, the counties that had the highest median prices saw down payments average 24 percent.