Down Payments: Bigger Isn’t Always Better
Will Springer Realtor
AUGUST 29, 2023
Rising home prices can keep thousands of first-timers out of the market unless they are using a low down payment. The math: 4% a year x 5 years = 20% price appreciation; 20% of $800,000 is $160,000, or $960,000 for the same home in 2028 x 3.5% = a down payment of $33,600.
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