Comment on Homebuyers turn frugal to save for down payments

Homebuyers turn frugal to save for down payments

Lenders want buyers with between 20 percent and 25 percent of house price in cash, said Guy Cecala, publisher of Inside Mortgage Finance. Even loans insured by the Federal Housing Administration, a popular option for first-time homebuyers, now require at least 3.5 percent down, up from 3 percent last year.

 

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