Money Monday: How buyers purchased their home

Here is a look at how recent buyers purchased their home:

  • Median purchase price – $235,000
  • Obtained a mortgage – 88%
  • Down payment amount – 10 percent
  • Down payment sources – savings (59 percent); sales proceeds from previous home (38 percent)
  • Received down payment help from family/friends – 16 percent
  • Obtaining a mortgage was not difficult/easier than expected – 66 percent

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