The average down payment for first-time buyers using an FHA loan was $6,640, 3.5% of the purchase price. Other Mortgage Costs to Plan for. When you buy a home the down payment isn’t the only expense you need to budget for.
He worked a lot of overtime and saved, planning a down payment on a truck and to become an over-the-road driver. “It’s.
The FHA loan FHA loans require a down payment of 3.5% of a home’s purchase price, at minimum. These products are popular with first-time home buyers because the program allows below-average credit.
What Is The Average Down Payment For A House · Through our home buyer programs, TSAHC currently offers eligible home buyers a 30-year, fixed-rate mortgage loan that requires a minimum down payment of only 3%-3.5% (depending on the loan type). TSAHC’s programs also provide a down payment assistance grant of up to 5% of the loan amount, which home buyers can use to fully cover the down payment requirement.
Whether you are a first time home buyer, or if your buying an investment property. It’s important to put the right amount down, even if a bank will allow a lesser amount, so that you are protected.
What’S The Average Down Payment On A House Contents big action step wells fargo (wfc mortgage interest rates white house. industrial A down payment is often the biggest challenge buyers face when purchasing a home, especially first-time homebuyers. The average down payment nationwide in 2014 was 14 percent. However, high-end homebuyers contributed higher-than-average down payments of more than 20 percent.