According to recent data from the National Association of Realtors (NAR), the range for first-time buyers is between 6 to 7%, depending on the housing market in your area.
The good news? Most mortgages in the U.S. don't call for a full 20% down. According to recent data from the National Association of Realtors (NAR), the range for first-time buyers is between 6 to 7%, depending on the housing market in your area. If you put down less than 20% on a mortgage, your lender may require you to take out private mortgage insurance (PMI), which will be added to your monthly mortgage payment.