May 14th, 2018
According to the National Association of Realtors, a 10% down payment was the most popular down payment in 2017. However, just because it's the most popular does not mean it's always the best for each family. As you discuss down payments with your clients, be sure to look at things like long-term savings goals, emergency cash reserves, moving expenses, etc. Equity is always a good thing, but when discussing down payments, it's best to look at the monetary value as opposed to just a percentage.