What's the number one hurdle for renters making the leap to homeownership? That pesky down payment. Even with an FHA loan that only requires a minimum of 3.5% down, the thought of setting aside several thousand dollars is daunting (and for some, darn near impossible).

A survey from Apartment List highlights the struggle for millennial renters, with 62% citing a lack of down payment savings as their reason for delaying homeownership. 48% have zero down payment savings, and just 11% have saved $10,000 or more.



Fortunately, there are programs out there to help, they're just not always well publicized. Here are some tips for finding Down Payment Assistance:

• You may not have the option to purchase or build a new construction home in your desired neighborhood. If location is a top priority, buying a resale home may be your only choice.
  
  
• Established neighborhoods sometimes provide a stronger community base than newer developments.
  
  
• Mature landscaping, including larger trees are typically not available with new construction homes.
  
  
• Most home owners sell a property with all necessary appliances included, so you know the home is move-in, live-in ready.
  

• Check out the basic stats.
  What is the median sale price of homes in a given neighborhood? How do the local and nearby schools perform? What amenities are nearby? How popular is the neighborhood in today's market?
  
  
• See what the neighbors are doing.
  Get a sense of local activities, and see if it looks like a place with frequent block-parties or if people may keep more to themselves.
  
  
• Learn the traffic patterns.
  Knowing that you're close to the highway or a public transportation center is one thing. You should find out if there are frequent jams at key commuting times, or if a nearby farmers' market limits road access during weekends. You may also want to consider how much parking is available, both for yourself and for when you want to entertain.
  
  

Not ready to buy a home for yourself but want to take advantage of great market conditions? Consider buying an investment property! It's a trend that's taking over real estate, as savvy investors look to put their money in an appreciating asset. Here are five reasons to consider it.

1. Rates are crazy low. Lower rates mean more affordable lending, or more for your money if you choose to reach higher.

2. Because it will appreciate. According to CoreLogic, "The overall home price index (HPI) has increased on a year-over-year basis every month for seven years." The long-term price appreciation of real estate can provide one of the safest investments out there.

3. Because passive income is good. Yes, it's nice to know there will likely be appreciation over time, but the real key to success with investment properties is passive income.