When purchasing a home many people often feel the hardest challenge is the down payment.  How much should you put down? What can be used toward the down payment? These are the most frequently asked questions when it comes to securing your down payment. There are many different types of loans available that can require anywhere from as little as zero down up to 20%. The availability of the loans to you is based on several factors including your credit score. Speaking with a lender to discuss what you are eligible for is the first step to getting on track. They can also assist with any concerns about what type of funds can be used as a down payment.

“Of course, a cash outlay of 20% of a home’s value could be a daunting proposition if you don’t have that kind of money just sitting around in your savings account. So when it comes to making that down payment, it’s important to understand the different alternatives that your lender will consider as acceptable sources of your down payment.”

Read the entire article here: http://jasonbonarrigo.realtytimes.com/advicefromagents1/item/27791-putting-together-your-down-payment

Pierce County Statistics:

Homes for sale in Spanaway: Average Price per Square Foot January 2014: $112. Up 1% compared to the last month.

Homes for sale in Tacoma: Average Price per Square Foot January 2014: $106. Down 6.9% compared to the last month.

Homes for sale in Lakewood: Average Price per Square Foot January 2014: $115. Up 4.3% compared to the last month.

Homes for sale in Fife Average Price per Square Foot January 2014: $116. Down 2.8% compared to the last month.

Homes for sale in Milton Average Price per Square Foot January 2014: $125. Up 10.9% compared to the last month.

Homes for sale in Edgewood: Average Price per Square Foot January 2014: $155. Up 25.1% compared to the last month.

Homes for sale in University Place Average Price per Square Foot January 2014: $140. Up 6.1% compared to the last month.

Homes for sale in Fircrest: Average Price per Square Foot January 2014: $108. Down 32.9% compared to the last month.

Homes for sale in Dupont: Average Price per Square Foot January 2014: $143. Down 0.4% compared to the last month.

Homes for sale in Puyallup: Average Price per Square Foot January 2014: $116. Down 1.9% compared to the last month.