Redfin, Seattle, reported that the typical U.S. homebuyer’s down payment in December was 16.3% of the purchase price, up from 15% a year earlier.
Tag: Down Payment
Clever Real Estate: Buyers Pay More Than $30,000 on Top of Down Payment
Clever Real Estate, St. Louis, released a new study, finding that homebuyers are spending an average of $31,975 on expenses in addition to their down payment and closing costs.
Redfin Reports Typical Down Payment Hits Record $67,500
The typical down payment for U.S. homebuyers hit a record $67,500 in June, up nearly 15% from $58,788 a year earlier, according to a new report from Redfin, Seattle.
CoreLogic Reports Average Home Down Payment Reaches Record High
The average U.S. home down payment reached a record high last fall, according to CoreLogic, Irvine, Calif.
Many Aspiring Homeowners Cite Cost of Living, Insufficient Income as Roadblocks: Bankrate
More than half of aspiring homeowners say the current cost of living is too high or their income is not high enough to afford a down payment and closing costs for a home (51% and 54% respectively), reported Bankrate, New York.
Down Payments Fall 10% from Year Ago as Housing Market Cools
Redfin, Seattle, said the typical U.S. homebuyer’s down payment fell 10% year over year in January to $42,375, its lowest level in nearly two years.
Survey: 1 in 4 First-Time Homebuyers Use Stimulus Money for Down Payment
Redfin, Seattle, said nearly one-quarter (24%) of first-time homebuyers are using stimulus money for their down payment, the second-most common way after saving directly from paychecks.
Bruce Schultz of Gateway First Bank: Promoting Affordable Homeownership in the Age of COVID
The COVID-19 pandemic presents residential mortgage lenders with an opportunity to expand their role in a critically needed area of community development – advancing affordable homeownership.
Saving for Down Payment Tougher for First-Time Home Buyers
Starter home prices are growing nearly seven times faster than renter incomes, making what was likely already the biggest challenge for first-time home buyers ― saving for a down payment ― even more difficult. But there is good news for today’s first-time buyers, said Zillow, Seattle.
For Many, Despite Low Mortgage Rates, Down Payments Out of Reach
Even though mortgage affordability has improved since 2018 because of ultra-low mortgage rates, home values have grown at nearly twice the rate of incomes over the past six years, said Zillow, Seattle, making saving for a down payment—particularly for first time buyers—a challenge.