SEPTEMBER 18TH, 2018
Good news coming out of new Q2 data: national down payments have hit record high levels not seen since Q1 of 2000.
The median down payment amount was $19,900, which was a 19% increase over Q1. This shows that consumers not only have more money to put down on a home, but are also willing to put more down in order to secure a home. However, as advocates, we have to look at the bigger picture than just putting money down. We should stay talking about emergency reserves, unplanned expenses, terms, purchasing power, etc. Stay focused on what matters!