Homebuyers are typically advised to make a down payment of 10-20% of the home’s purchase price.
Homebuyers are typically advised to make a down payment of 10-20% of the home’s purchase price. This means that to buy a $200,000 home, you would need a down payment between $20,000 and $40,000. A down payment this large isn’t realistic for everyone, so many lenders have taken steps to make homeownership more accessible. Today, the average down payment for a home is closer to 6%.