
Average down payment for first-time homebuyers: How much is it and how can you lower it?
The average down payment for first-time homebuyers is considerably less than the oft-quoted 20 percent down payment requirement.
I aspire to help people improve their financial wellbeing and literacy by writing factual content that’s accessible and easy to understand.
— Tim Maxwell
Early in his career, Tim worked in broadcast news as a “one-person band.” He was often responsible for capturing news events and interviewing subjects and witnesses on camera, before writing and editing the package for broadcast. He later worked for 20th Century Fox and NBC/Universal in various digital media capacities.
Tim is now a freelance personal finance writer and blogger with a particular focus on credit cards and consumer lending. In 2002, he stumbled upon a copy of "The Millionaire Next Door," by Thomas J. Stanley and William D. Danko, which ignited a passion for learning and sharing fact-based money principles. Tim has a passion for demystifying personal finance and helping people live their best lives.
Tim lives in the Sierra Nevada mountains, where he enjoys cycling, golfing and creating memories with his family. He also finds immense joy in cashing in his hard-earned credit card rewards.
I aspire to help people improve their financial wellbeing and literacy by writing factual content that’s accessible and easy to understand.
— Tim Maxwell
The average down payment for first-time homebuyers is considerably less than the oft-quoted 20 percent down payment requirement.
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