Approximately 60 percent of homebuyers financed their home using a 6 percent – or less – down payment, according to data from the National Association of REALTORS®. With the most recent median existing-home price clocking in at $258,300, a 6 percent down payment is $15,498.
Here are some simple suggestions from NAR on how potential buyers can cut costs and save for that down payment.
Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.