{"id":12775,"date":"2018-01-12T14:49:31","date_gmt":"2018-01-12T14:49:31","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=12775"},"modified":"2018-01-12T14:49:33","modified_gmt":"2018-01-12T14:49:33","slug":"buyers-betting-bigger-payments","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/buyers-betting-bigger-payments\/","title":{"rendered":"Buyers Betting on Bigger Down Payments"},"content":{"rendered":"

Buyers Betting on Bigger Down Payments<\/h1>\n
\"Buyers<\/a>

Buyers Betting on Bigger Down Payments<\/p><\/div>\n

With steep competition, some buyers are scrambling to come up with larger down payments to gain a competitive edge.<\/p>\n

\u201cIn many purchase situations, there are multiple offers, and the buyers who have the bigger down payment are more likely to win out,\u201d Daren Blomquist, ATTOM Data Solutions\u2019 senior vice president, told The Wall Street Journal<\/em>.<\/p>\n

The median down payment for home purchases that were financed in the third quarter of 2017 soared to a high of $20,000, or 7.6 percent of the median sales price of $263,000, according to ATTOM, a real estate data firm. That is up from 6.1 percent in the third quarter of 2016.<\/p>\n

On luxury homes, buyers are bringing even more money to closing. In the third quarter of 2017, the median down payment on a financed home purchase over $1 million was $385,500, or 28.2 percent of the median sales price.<\/p>\n

\u201cIf you want to play in the high-end market, you have to be able to pony up a bigger down payment,\u201d Blomquist told The Wall Street Journal<\/em>.<\/p>\n

Not all jumbo-mortgage lenders require large down payments, however. For example, BBMC Mortgage in Chicago allows qualified borrowers to put down as little as 5 percent on a jumbo mortgage up to $650,000. For loans up to $1 million, the lender has programs available that allow 10 percent down.<\/p>\n

Mortgage rates are expected to increase in 2018 and that will impact how much buyers can afford. Lawrence Yun, chief economist at the National Association of REALTORS\u00ae, predicts the 30-year fixed-rate mortgage rate will rise to 4.5 percent by the fourth quarter of 2018\u2014and to 4.8 percent by the end of 2019.<\/p>\n

Source: \u201cGet Smart on Down Payments<\/a>,\u201d The Wall Street Journal (Jan. 9, 2018) [Log-in required.]<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Buyers Betting on Bigger Down Payments With steep competition, some buyers are scrambling to come up with larger down payments to gain a competitive edge. \u201cIn many purchase situations, there are multiple offers, and the buyers who have the bigger down payment are more likely to win out,\u201d Daren Blomquist, ATTOM Data Solutions\u2019 senior vice … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-12775","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nBuyers Betting on Bigger Down Payments - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/buyers-betting-bigger-payments\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-betting-bigger-payments\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-betting-bigger-payments\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Buyers Betting on Bigger Down Payments\",\"datePublished\":\"2018-01-12T14:49:31+00:00\",\"dateModified\":\"2018-01-12T14:49:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-betting-bigger-payments\\\/\"},\"wordCount\":294,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-betting-bigger-payments\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2018\\\/01\\\/01122018.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-betting-bigger-payments\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-betting-bigger-payments\\\/\",\"name\":\"Buyers Betting on Bigger Down Payments - 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