Finding the down payment in a time of scarcity

With mortgages requiring more skin in the game and down payment charities a thing of the past, how are home buyers coming up with enough of a down payment to qualify? According to a story at BuilderOnline.com, a mix of education and creativity certainly can't hurt:

With the elimination of seller-funded down-payment assistance and nearly all loans requiring at least a small down payment, home buyers--and the builders who sell to them--have to figure out how to come up with thousands of dollars at closing.

It’s a big challenge, but builders are making it work.Across the country, builders, lenders, and real estate agents are educating buyers on their options. For most buyers, the method is an aggressive savings program that starts when the contract is signed.

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