According the NAR 2023 Profile of Homebuyers and Sellers, the median length of time buyers waited to buy a home while saving for the down payment was four years! (See chart below!)

The buyers were asked what expenses made saving for a down payment difficult:

52% reported high rent or a current mortgage payment
42% said student loans
36% cited a car payment
31% cited credit card debt

It’s hard to save money in the current economy. But a family that can responsibly manage their cashflow is far better off owning versus renting. Down Payment Assistance products from Oasis Home Mortgage just might pull them off the fence today!

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