Many Consumers Confused About Down Payments
More than one-third of Americans believe that a 20% down payment is required to buy a home.
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Saving for a Down Payment Takes Pennsylvania Residents Over 3 Years
Across the U.S., the average time to save for a 20% down payment is 51 months, or a little over four years.
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Pittsburgh, Philadelphia make list of most affordable metros for homebuying newlyweds
For couples looking to get hitched and buy a home, two Pennsylvania metros were named two of the most affordable cities in the U.S. to accomplish both life milestones.
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Americans willing to give up dream car, vacations to afford homeownership
A survey of more than 1,000 potential homebuyers by Unison Home Ownership Investors found that the average American would give up many non-necessities for a gift of a 10 percent home down payment.
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Homebuyers increasing percentage of down payment
The median down payment for single-family homes and condos was $20,000 for the third quarter of 2017, an increase of nearly $2,000 from the second quarter, and up more than $5,000 year-to-year.
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Young renters aren’t saving enough for homebuying
Sixty-eight percent reported they have less than $1,000 saved for a down payment, while 44 percent have nothing saved.
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Affording a down payment in Philadelphia takes an average of 3.8 years, study reports
Thanks to the lowest average income on the list, at $38,253, as well as the ninth-highest home prices at an average of $145,300, saving for a down payment may take a while. Philadelphia landed in eighth out of the 15 cities studied.
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Forty-one percent of homeowner couples report splitting down payment equally
Nearly half of American couples who bought a house split the down payment equally, according to a new NerdWallet study.
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Philadelphia buyers: How many coffees must they sacrifice to afford a down payment?
Realtor.com® analyzed how many Starbucks coffees consumers in the 15 largest cities would have to sacrifice to afford a down payment.
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Homeownership is still part of the American dream
According to a recent Wells Fargo survey, 93 percent of respondents believe that homeownership is an achievement to be proud of, while 86 percent said that homeownership is a dream come true.
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