Since 1980, the only time home prices dropped was during the housing market crash of 2008. Fortunately, the market today isn’t like it was in 2008.

According to the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. In fact, for all homebuyers today it’s only 15%. And it’s even lower for first-time homebuyers at just 8%

You should know, even with student loans, waiting to buy a home may not be necessary. While everyone’s situation is unique, your goal may be more within your reach than you realize.

If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be. One way to ease those concerns is to make sure you understand some of the costs you may encounter up front.

If you’re looking to buy a home, your down payment doesn’t have to be a big hurdle and the reality is, you probably don’t need to put down as much as you think.

The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed. Let’s look at the latest information with context so we can see how this compares to previous years.

Here are the top two questions you need to ask yourself about home prices and mortgage rates as you make your decision.

If you’re intimidated by how much you need to save for a down payment it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case.

Do all those confusing headlines about the housing market leave you with more questions than answers? That’s hard when you’re trying to decide if you’re ready to buy or sell a home. Get your free guides. They’re designed to make sure you have the information you need to make your decision.

If you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: Why Are Mortgage Rates So High? When Will Rates Go Back Down?