What Is The Average Down Payment On A House

If you're thinking about buying a house, you will have plenty of food for thought. For example, what is the average down payment on a house in.

The average down payment on a house varies depending on the type of buyer, location and home prices in a given area. For example, first-time buyers typically put less money down than repeat buyers,

U.S. home buyers are putting down less to purchase homes anymore. According to Ellie Mae, whose mortgage software handles more than 3.7 million applications annually, the average downpayment is.

Average Down Payment in California, 2017. According to data reported by RealtyTrac, Ellie Mae (a mortgage software company), and other sources, the average down payment on a house in California is roughly 13% of the purchase price. Home prices, on the other hand, vary widely from one city to the next.

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Use our free mortgage calculator to quickly estimate what your new home will cost. Includes taxes, insurance, PMI and the latest mortgage rates.

It’s part of your down payment, and the amount is generally dictated by local home buying customs. An earnest money deposit can vary from as little as $100 or $500, to $1,000 or even $50,000, depending on the property’s sales price.

Check out the pros and cons of different down payment amounts. A 20% down payment on a house is considered the standard, but it’s not set in stone. What Is the Standard Down Payment on a House.

Getty If you’ve been thinking of buying a house, you probably know that you should start saving up toward a down payment. 1,4000 monthly payment over a 30-year loan with an interest rate of 5%.

Traditionally, an average down payment has been fixed as 20% of the purchase price. However, the percentage of down payment varies between 5% to 20%. With the recent boom in real estate prices, the lending institutions have become more lenient, and now, they allow a down payment, which is as low as 3%.