Related Articles AtHome Colorado | Thompson Thrift to develop 344-unit luxury multifamily community in Fort Collins AtHome Colorado | Erickson Realty rebrands to Enjoy Realty AtHome Colorado | Feel at home on your vacation with a home exchange AtHome Colorado | Life transitions: Empty nesters or multi-generational housing AtHome Colorado | Curb appeal reigns when selling your home You might have heard you’ll need a 20 percent down payment to buy a home. While there’s a reason that number seems standard, 20% isn’t set in stone. Many mortgages require borrowers to put down as little as 3 or 3.
5%, and some loans don’t have minimums at all. What is the average down payment on a house? The median sale price of a home in the U.S.
in Q1 2024 was $335,500 according to real estate data provider ATTOM . During that same period, the median down payment was $26,700, or only 8% of the median home price. Other data suggests a higher percentage, though.
In its “2024 Home Buyers and Sellers Generational Trends ” report, the National Association of Realtors (NAR) found the median down payment among all buyers (some 6,817 new homeowners) to be 15%. That tallies with ATTOM’s monthly “ United States Real Estate Overview ,” which for May 2024 puts the national median home sales price at $384,375 and the median down payment at $60,202, or 15.6%.
As home prices have risen, so have loan amounts: in the first quarter of 2024, the median mortgage on a single family home was $329,800,.