0 to 20% of home's price
The average buyer who purchased a home last year made a 14 percent down payment, or about $32,141, according to a new RealtyTrac analysis of 1.5 million purchase loans across 386 counties nationwide. You Should Know. Smaller Down Payments Lure More Buyers. 87% of Homes Qualify for Down Payment Aid. There are smaller and more lenient down payment requirements. Most FHA mortgages require a 3.5% down payment — that’s $3,500 for every $100,000 you borrow — and the average down payment on an FHA home loan is about 5%, according to Ellie Mae. That's far less than the 20% average for conventional home loans. Twenty-five percent of home purchases in the nation's 25 lowest priced counties averaged a down payment amount of $8,239. This translates into a 12 percent down payment average for these areas, or half that seen in the nation's highest priced counties. A down payment is often the biggest challenge buyers face when purchasing a home, especially first-time homebuyers. Median home prices, location and homebuyer age can affect the average down payment, according to real estate analysis conducted by Realty Trac. 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. The Average. MortgageCalculator.org reports that the benchmark figure for a down payment is 20 percent of the home’s price. Additionally, the Home Buying Institute estimates the range for an average down payment to be anywhere from 0 to 20 percent. Using those figures as barometers, an average down payment for a home comes in at about 10 percent. But there are no official statistics on average down payments.
http://realtormag.realtor.org/daily-news/2015/03/18/whats-average-down-payment http://www.interest.com/fha-loans/news/how-to-get-an-fha-loan/ http://www.ehow.com/about_7273809_average-down-payment-house_.html http://www.ehow.com/about_7273809_average-down-payment-house_.html http://homeguides.sfgate.com/average-down-payment-house-7372.html
average down payment on a house?