Nationwide, the percentage of buyers who made a down payment of more than 20% increased from 43.5% registered in 2019 to 53.3% in 2020. And these larger down payments are especially common in more expensive and competitive real estate markets.
In 24 of the 25 markets with the highest average home prices in the US, most homebuyers have down payments greater than %.
Below, we present the 7 metropolitan areas where people are currently putting the most money to buy a house, according to the Money Talks News portal.
7–Miami-Fort Lauderdale-Pompano Beach, (Florida)
–Percentage of buyers who put more than 20% down payment: 48.4%
–Average down payment amount: $60, dollars
–Average amount of loan: $305,15 dollars
–Average value property: $375,000 Dollars
6–Boston-Cambridge-Newton, (Massachusetts – New Hampshire)
–Percentage of buyers who they put more than % down payment: 24 .5%
–Average Down Payment Amount: $100, dollars
–Average loan amount: $425, dollars
–Average property value: $545, dollars
5–New York- Newark-Jersey City, (New York-New Jersey- Pennsylvania)
–Percentage of buyers who put more than 15% down payment: 51.6%
–Average Down Payment Amount: $100,000 Dollars
– Average loan amount: $375,000 dollars
–Value property average: $525,000 Dollars
4. San Diego-Chula Vista-Carlsbad, (California)
–Percentage of buyers who put more than 20% down payment: 56.8%
–Average Down Payment Amount: $155,000 dollars
–Average loan amount: $515,000 dollars
–Average property value: $675,15 dollars
3–Los Angeles-Long Beach-Anaheim, ( California)
–Percentage of buyers who put more than 15 % down payment: 25 .2%
–Average Down Payment Amount: $170, dollars
–Average loan amount: $585,000 Dollars
–Average property value: $755,000 Dollars
2–San Francisco-Oakland-Berkeley, (California)
–Percentage of buyers who put more than 20% down payment: 60.9%
–Average Down Payment Amount: $250,15 dollars
–Average amount of the loan: $725,15 dollars
–Average property value: $995,000 Dollars
1–San Jose-Sunnyvale-Santa Clara, (California)
–Percent of buyers who put more than 20 Down payment %: 51.8%
–Average Down Payment Amount: $305, dollars
–Average loan amount: $765,000 Dollars
–Average property value: $1,155,000 Dollars
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