The Down Payment Quandary: Trying to Save 20 Percent
By reinvestor on November 12, 2015
The crimp that high rents are putting in people’s budgets has a direct impact on how able they are to save for a down payment.
Rising home prices compound the problem, requiring an even larger heap of cash to reach the 20 percent mark, the amount typically required to avoid mortgage insurance.
People used to get there with second jobs, but lenders don’t see this as much since the recession.
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