As of 2024, the typical down payment is less than 20%, with the average down payment on a house for a first-time buyer currently hovering around 6-7%, Opens overlay. Footnote 1Opens overlay For many aspiring homeowners, the thought of coming up with a 20% down payment on a house over...
" Zillow Chief Economist Skylar Olsen said. "To make the finances work, some folks are making a big move across the country, co-buying or buying a home with an extra room to rent out. Down payment assistance is another great resource that is too often overlooked."...
The typical U.S. homebuyer made a $42,000 down payment in January, the lowest level in nearly two years, amid rising mortgage rates and low competition. At the same time, the share of homes bought in cash reached a nine-year high.