[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1ho4yc1n3gos7":3,"$ffeh0925h8cuz":42,"$fbwk2pqjjqsc7":46},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":28,"updatedAt":29},1156,"having-trouble-saving-enough-for-your-down-payment-crowdfund-it","Having Trouble Saving Enough for Your Down Payment? Crowdfund It!","You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F08\u002F20171255\u002F20180822-Share-STM.jpg","You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home.\u003C!--more-->\r\n\r\nMany couples are asking their wedding guests to contribute to their “Down Payment Fund” rather than fulfilling a traditional registry. This is fueled by the fact that many couples live together prior to marriage and already have the necessary items to make a house a home…\u003Cstrong>they just need the house!\u003C\u002Fstrong>\r\n\r\nThe average wedding in the United States has 120 guests who give wedding gifts valued, on average, at $186. This means that couples could walk away from their nuptials with over $22,000 towards their down payment!\r\n\r\nServices like \u003Cem>HomeFundMe \u003C\u002Fem>allow friends, family members, and almost anyone else in a buyer’s network to contribute funds toward the buyer’s down payment. Contributors can determine, at the time of their donation, if their gifts are ‘conditional’ or ‘non-conditional’ on the beneficiary buying a home.\r\n\r\nAccording to a recent \u003Cem>Wall Street Journal\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.wsj.com\u002Farticles\u002Fno-savings-no-problem-these-companies-are-helping-home-buyers-with-down-payments-1530270002\">article\u003C\u002Fa>, \u003Cem>“about 400 borrowers have used HomeFundMe to help buy homes since the program launched in October and on average, they raise about $2,500.”\u003C\u002Fem> The article went on to explain that most borrowers use these funds in combination with their personal savings to shorten the time needed to achieve their goal of homeownership.\r\n\r\nThere are more and more programs surfacing from lenders that allow buyers to put down as little as 3% to buy their dream home. \u003Cem>Fannie Mae\u003C\u002Fem> and \u003Cem>Freddie Mac\u003C\u002Fem> loan programs require 3% down payments, while \u003Cem>FHA\u003C\u002Fem> programs require as little as 3.5%, and VA Loans are often approved with 0% down!\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nGone are the days of 20% down or no loan! If your dreams include buying a home of your own in the next year, you can get creative with your down payment savings to make it happen!","\r\nGone are the days of 20% down or no loan! 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