For many homebuyers, the down payment is the scariest part.

Sure, you can afford X amount for a mortgage payment every month – that’s no different than having a rent! But coming up with thousands and thousands of dollars to hand over right this very second?

Now that’s a different story.

Down Payments Don’t Have to Be Crazy

House-and-keys-jpgFortunately, a down payment doesn’t have to break the bank. Despite what many rumors suggest, you don’t need to put up 10 or 20 percent of the home price in order to afford the purchase.

In fact, with some types of loans, you can pay as little as just 3 percent.

Always be sure to talk with your lender about your loan options, and make sure you’re choosing the type that fits your financial situation best.

In addition to choosing the right loan, selecting the right property is also key in securing a low down payment.

Opting for high-dollar, high-risk properties is going to require a lot more cash up front, while more affordable, reasonably priced properties will give you a more leeway when it comes to the down payment.

Keep this in mind when searching for and considering potential property options, and be sure to convey your concerns to your real estate agent, so they can factor it in when perusing listings for you.

Why Schertz Real Estate is the Answer

Affordability is one of the best parts about Schertz.

On top of it being just an all-around great place to live and work, Schertz also offers a wide variety of affordable, well-priced properties that won’t drain your bank accounts. This makes it easy to 1) secure a reasonable monthly mortgage you and your family can handle for many years to come and 2) offer a low down payment that secures your loan but doesn’t empty your pocketbook in the process.

It’s a win-win all around.

Just how affordable is Schertz? And why is Schertz real estate the answer if you’re looking for a low down payment, reasonable monthly mortgage and high-quality property? Let’s break it down:

  • The median home price in Schertz is just $171,000. At an interest rate of 4 percent (that is, if you’ve got good credit), you’re only going to pay a mere $816 for mortgage every month. Considering monthly rent in the area is well over $1,000, that’s a huge savings – especially if you’re staying in Schertz for the long run.
  • That means down payments are low. If you’re offering a down payment of 3 percent – that’s barely over $5,000 up front. You probably already have a savings account that can cover that right now! If you’re thinking about investing a little more at the beginning (so your monthly mortgage is lower), a 10-percent down payment isn’t much either. That will run you only $17,000.
  • There are plenty of affordable homes on the market. You might think that with such affordable properties, there’d be a real dearth of Schertz real estate on the market. Fortunately, you’d be wrong. Schertz is a busy, growing area, and people are always coming and going. At any given moment, you’ll find hundreds of available properties, ranging anywhere from the $100,000s up to the $400,000s for larger, more expansive homes.
  • Living here is more affordable, too. Once you’ve saved on the mortgage and your down payment, Schertz keeps saving you money as the years go on. According to cost of living indices, living in Schertz is 5.9 percent more affordable than the national average. It also boasts lower costs of groceries, transportation and utilities than both the state and national averages, and lower costs of housing and health care than the national average, too.

The moral of the story? Schertz real estate is the ideal choice if you’re looking for a great home at a great price, without putting up a huge down payment up front. It can save you money both now and in the future!

Find the Perfect Schertz Real Estate

Are you and your family ready to take advantage of the affordability that Schertz has to offer? Then contact the Claus Team today. Our agents are experts in Schertz real estate, and they can help you find the perfect home for your family’s needs, preferences and budget. We can even tour homes with you, negotiate on your behalf and accompany you to closing. Call us now, and we’ll send you a customized list of properties just for you.

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