August 14, 2017, CNBC, Realty Check stated, "In the past 12 months, 1.5 million borrowers bought their homes with down payments of less than 10 percent, marking a seven-year high".  Of course that is not the "normal" down payment, just the trending down payment method in the Nation.

Welcome to Rural America!!!!!  We are blessed to have the ability in our small communities to help borrowers take advantage of 100% loans backed by USDA (Rural Development).  100% loans are our norm.

We do see many VA loans and occasional FHA or conventional with only 5% down payment.  But USDA seems to be our area's primary type of loan.

The cost to borrow money has not seemed to decrease, so most buyers are ready for a 3% down payment OR to pay their own closing costs.  What is not the "norm" in our area is the seller paying the bulk of the buyer's closing costs and pre-paids.  This trend is just still finding it's happy spot in rural Northeastern Missouri.  Seller's want to see the buyer have a little blood in the game, so to speak and are not as graciously giving for the pre-paids and loan closing costs.

Stay tuned for the location of the Seller Credits in rural Northeastern Missouri...trends do change.