If you’re in the market to buy a home or you know someone who is, this is a video you should bookmark. The biggest thing that’s keeping people from buying a home is the down payment. Coming up with a down payment for a home can be challenging in the East Bay, but it’s not as challenging as a lot of people think.

Many believe that you need 20% down to buy a home. That’s just not true. There are plenty of programs out there that will allow you to purchase a home without a huge down payment.

“The conforming loan limit for 2019 is $726,525.”

The new conforming loan limit for 2019 is $726,525. Some down payment assistance programs out there will allow about $50,000 to go toward a down payment. After that, buying a home could be as simple as saving an extra months’ rent payment. It’s basically a deferred payment loan for the life of the loan, but it allows a buyer to get into a property without much of a down payment at all.

There are plenty of areas where you can find a home for under $726,525, such as Concord, Martinez, Pleasant Hill, Brentwood, and Antioch. There are more homes to choose from in these areas.

I work with a few lenders who specialize in helping homebuyers come up with a down payment. If you have any questions about the process or about anything else real estate-related, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.