There’s no simple answer to this question, but according to a Time magazine article dated July 18, 2022 the nationwide average is about 12%.
Average down payments will obviously vary alot according to age of buyer. The older you are, the more money you’re likely to have from your salary or in home equity, and the more money you’re likely to put down for a home purchase.
If able, it is recommended home buyers put down 20% or more to avoid private mortgage insurance.
We work with fantastic lenders who can help you determine what is best for you and your home financing needs. Reach out today!