You may not need to make a down payment of 20% but putting together the down payment is still one of the most challenging steps in buying a home. Check out our infographic above to see what obstacles other recent homebuyers faced in trying to save for their down payments.
The smaller the down payment you can afford, the better your credit needs to be to secure your mortgage. You can check your credit score and read your credit report for free within minutes using Credit Manager by MoneyTips.
Part two in our Keys to Homeownership series revealed what made Americans fall in love with the homes they bought. Part four will focus on how homebuyers paid for their homes and the sacrifices they had to make to afford it.
MoneyTips is happy to help you get free mortgage quotes from top lenders.