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You might be in for a rude awakening: a 20% down payment is no longer enough for most people to afford monthly payments—not when home values are 45% higher than before the pandemic, and mortgage ...
The median price for an existing home in the U.S. was $379,100 as of January 2024. A 20 percent down payment on a home at this price would come to $75,820. Regardless of price or loan type, though ...
According to the National Association of Realtors, the average down payment for a first-time buyer in 2022 was 8% -- while repeat buyers put down an average of 19%. Making a down payment under 20% ...
Key takeaways. The median down payment on a home in the U.S. in Q1 2024 was $26,700 — about 8% of the median home purchase price at that time.
Just 29% of first-time homebuyers made a 20% down payment in April 2021. But first-time buyers are increasingly squeezed out of the market. The percentage of buyers who were purchasing a first ...
In reality, the average down payment for first-time homebuyers was just 8% in 2023, according to the National Association of Realtors. That's due, in part, to down payment assistance (DPA) programs.