October 3, 2017

What Is the Down Payment Sweet Spot?

Fifty-three percent of homebuyers would prefer to put down 10 percent.

  • Fifty-three percent of respondents to a recent survey said that 10 percent is the ideal down payment size.
  • Nationwide, the average down payment was 7.3 percent in the second quarter.
  • Homebuyers in San Jose and San Francisco made down payments of more than 20 percent, the highest in the country.

More than half of American homebuyers would prefer to put down less than 20 percent, although they should understand the implications of doing so when devising a savings plan.

American Financing’s Mortgages in America Survey found that 53 percent of Americans across all generations said that 10 percent was the ideal down payment. One in five would opt for a 20 percent down payment, while 14 percent would make a 15 percent down payment.

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About The Mark Company

The Mark Company is one of the nation’s premier urban residential marketing and sales firms. Founded by Alan Mark in 1997, The Mark Company provides a full range of core consulting services including analytics, design, marketing and sales for urban high-rises and suburban attached properties throughout the Western United States. The firm is a trusted partner to global leaders in residential development and finance, providing buyer-driven sales and marketing strategies that produce industry-leading results. The Mark Company has represented more than 10,000 residences and generated over $5 billion in sales for some of the nation’s most notable and successful developments including The Infinity in San Francisco, Evo in Los Angeles and The Martin in Las Vegas. Current projects include 181 Fremont Residences and The Austin in San Francisco and Cavalleri in Malibu. The Mark Company is a subsidiary of San Francisco-based Pacific Union International, the eighth-largest residential real estate brokerage in the U.S. based on 2016 sales volume of $10.15 billion. Pacific Union merged with Los Angeles-based brokerages John Aaroe Group in December 2016 and Partners Trust in August 2017. This strategic business collaboration links four of the strongest residential real estate firms on the West Coast, supporting combined 2016 production of $12.6 billion by 1,400 real estate professionals in 47 offices throughout California. For more information, please visit www.themarkcompany.com.