True or False – You HAVE to have 20% Down to Purchase a Home

It depends on who you talk to and which loan program you’re applying for …. In a recent Wells Fargo Home Buyer survey, many myths and untruths came into light and many of them hinged on how much money was needed to have upfront when purchasing a home. The Wells Fargo Home Buyer Survey revealed: 82% of the people who responded to the survey do not spend beyond their means and know how to manage their finances. 63% have funds set aside for emergencies (even the Millenials!) 27% disclosed they tended to spend money without thinking (impulse purchases), but many said they … [Read more...]