By Marcie Geffner - LendingTree.com
It’s a common misconception that buyers need to save up a lot of money to purchase a home. In fact, it’s possible to buy a home with a very modest sum for a down payment and closing costs.
The down payment is often the most daunting aspect of the process for first-time home buyers. Repeat buyers usually are less concerned about putting money down because they can use the equity they have in their current home to buy their next home.