Saving for a down payment is often a major hurdle for wanna-be homeowners.

And for good reason: Putting 20% down costs two-thirds of the average household income.

Very few are saving for a down payment in one year, it's something they do over multiple years. And for renters who have been faced with rising rent and health care costs, it's very difficult to put away any money at all.

A median-priced home in the U.S. is $192,500, which means buyers need to come up with $38,500 to put 20% down. And that figure doesn't include added expenses associated with home buying -- like an inspection and closing and moving costs.

Home prices have been rising throughout the country, largely because of strong demand for homes combined with a shortage of available homes for sale. In many markets, home prices rose much faster than incomes, putting homeownership out of reach for some.

Some Lenders offer mortgages with low down payment options, and some FHA loans require as little as 3.5% down.

However, putting less than 20% down means a buyer probably won't get the lowest interest rate and could face paying a monthly mortgage insurance fee. Many experts forecast rates to rise this year.

The market has been particularly tough on first-time buyers recently, which is roughly half the market. They can't rely on the equity of a home sale to help bolster their down payment savings, and they face stiff competition.

Contact us to find out what one of our preferred lenders can do for you to make home ownership affordable and help match what you have for a down payement.