Tag Archives: Down Payments Shrink

The median down payment sank to its lowest level since 2009, averaging 9 percent for home buyers this year, according to housing data by the National Association of REALTORS®. First-time home buyers’ median down payment was 4 percent and repeat buyers averaged a 13 percent down payment, according to the housing data. “First-time buyers historically make small down payments, but repeat buyers like to put down 20 percent if they can to avoid paying mortgage insurance,” says Paul Bishop with NAR. “The general loss in home value since the peak […]