Tag Archives: down payment

For a 20% Down Payment It Takes 12 Years of Saving

First-time buyers have a whole lot of saving to do — possibly more than a decade of saving for a home purchase. It can take, on average, 12.5 years for first-time buyers to save a 20 % down payment based … Continue reading

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New Type Of 15 Year Mortgage ?

Two mortgage executives are hoping to overhaul the 15 year mortgage, making it more readily available to low and moderate-income people. They say the changes will help borrowers build equity at a much faster pace than they would with a … Continue reading

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First Time Buyers Turn To The Mom & Dad Bank For Help

First time buyers are increasingly turning  to the Mom and Dad bank to help fund their home purchases. Twenty-seven percent of first time buyers last year received a cash gift from relatives or friends for a down payment, according to … Continue reading

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Down Payments For Lower Priced Homes Double

Down payments for lower priced homes double: Buyers looking at lower-priced homes are not only facing major inventory hurdles, they’re also finding that they have to bring more money to the closing table. The median down payment for the cheapest … Continue reading

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Down Payment Requirements Loosening ?

Down Payment Requirements Lenders’ tight underwriting standards with down payment requirements have been blamed for sidelining many potential home buyers the last few years. But lenders may be showing signs of loosening down payment requirements up a bit. The average … Continue reading

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