First Home - California

103 - How Down Payments Work


Listen Later

Episode #103 gives you a close-up look at how down payments work.

A National Association of Realtors survey in 2021 found that 29% of first-time homebuyers said the down payment was the most difficult step in the home buying process.

Topics covered include:

  • Why your down payment is important to you
  • Why it’s important to your bank
  • Why it’s okay if you aren’t able to put down 20% as a down payment
  • What are the rules for using a financial gift from your family to help with your down payment
  • What’s a good faith deposit and how does that work into your down payment
  • A brief look at some of the first-time homebuyer programs available in California, which will be the deep dive we take in the upcoming Episode #104.
  • Plus, some tips that might help you in your efforts to save money for your down payment
  • Guest:

    Mike Shenkman, Real Estate & Mortgage Expert, lecturer in the Urban Studies and Planning Department at University of California, San Diego.

    Other Resources:

    DRE Website: https://dre.ca.gov/FirstHomeCalifornia

    ...more
    View all episodesView all episodes
    Download on the App Store

    First Home - CaliforniaBy California Department of Real Estate

    • 5
    • 5
    • 5
    • 5
    • 5

    5

    4 ratings


    More shows like First Home - California

    View all
    Freakonomics Radio by Freakonomics Radio + Stitcher

    Freakonomics Radio

    32,267 Listeners

    Housing Matters Podcast by CALIFORNIA ASSOCIATION OF REALTORS and the CENTER FOR CALIFORNIA REAL ESTATE

    Housing Matters Podcast

    33 Listeners

    The Daily by The New York Times

    The Daily

    112,987 Listeners

    Today, Explained by Vox

    Today, Explained

    10,335 Listeners

    Real Estate Insiders Unfiltered by Real Estate Insiders Unfiltered

    Real Estate Insiders Unfiltered

    87 Listeners

    Real Estate Exam Deep Dive by Exam Scholar by Exam Scholar - Real Estate Edition

    Real Estate Exam Deep Dive by Exam Scholar

    0 Listeners

    Real Estate Investing For Retirement by Christopher Story

    Real Estate Investing For Retirement

    9 Listeners