home loan

Should You Buy a House During the Holidays?

home decorated for holidays

If you’re currently in the market for a new home, you may be wondering if you should wait until after the holidays to buy. While spring and summer tend to see the bulk of home sales, it doesn’t mean they’re the best times to buy a house. Take a minute to explore the pros and cons of buying a house around the holidays.

The 20% Down Myth

Not all home loan options require 20% down.

If you’re desperate to own a home of your own, you’re likely saving up until you have 20% of your dream home’s total value. That’s great, but the fact is you don’t need to put down 20%. 

The 20% myth is left over from the era after the housing crisis, when many lenders tightened their lending parameters for a while. In fact, since FHA loans were introduced in 1934, mortgages have not required putting 20% down.