Zillow Offers 1% Down Payment to Lure Struggling Homebuyers

Zillow Group Inc. is offering mortgages with just a 1% down payment in an effort to attract homebuyers in the most unaffordable market in decades, offering to pay 2% of the down payment at closing.

yahoo.com

Relevant topic timeline:

8/31/2023

Mortgage rates remain above 7% for third week in a row

Mortgage rates have eased down slightly but remain above 7%, making it difficult for many homebuyers, leading to low demand and a shortage in homes for sale.

9/8/2023

Down Payments on Homes Much Lower Than 20% for Most Buyers Today

Many people believe that a 20% down payment is necessary when buying a house, but in reality, the typical first-time buyer only needs around 6-7% as a down payment, and there are various programs available that offer even lower options.

9/22/2023

Housing Market Freeze to Limit Home Price Growth to 5% Over Next Year, Per Zillow Forecast

Zillow economists predict a 5% increase in home prices over the next year due to higher mortgage rates prolonging the housing market freeze.