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Prospective buyers not knowledgeable about buying a home

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Zillow revealed that one-third (34% to be exact) of first-time homebuyers are not aware that it is possible to get a home loan with a downpayment of less than 5%. In fact, the number of lenders on Zillow Mortgage Marketplace quoting loan requests with a down payment between 3.5 and 5% has risen by 570% over the past two years, Zillow writes on its blog.

To see what else prospective buyers do not know about homebuying, see Zillow's (Z) blog post.

Source: Zillow
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