Home Buyers Double Down Payment, Avoid PMI
Update: 2025-11-25
Description
Home buyers are now making significantly larger down payments, with the average reaching nearly twenty percent, the highest in over thirty years. This trend indicates increased financial security and equity among buyers. First-time buyers often rely on savings or assistance programs, while repeat buyers use proceeds from previous home sales. Aiming for a twenty percent down payment can help avoid private mortgage insurance, saving thousands over the loans life. Saving strategies like automatic deposits into high-yield savings accounts or CDs can help grow your down payment funds.
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