The national payment center has reached its highest level since at least 2005, reports ATTOM Data Solutions.

The average down payment for a single-family home purchased in the third quarter with financing was $ 27,500. That’s a 41% increase from $ 19,502 in the third quarter of 2020.

Overall, the median down payment of $ 27,500 was 8% of the national average selling price of homes purchased with financing in the third quarter, up from 6.5% last year.

Advances are likely to be higher because house prices are higher. The National Association of REALTORS reports that sales prices for existing homes were 13% higher in October than the previous year.

While borrowers are bringing more money into the facility, they are funding more home purchases than before. The average loan for the third quarter was $ 295,954, up 13% from last year, according to ATTOM Data Solutions.

Urban areas with the highest payments

According to ATTOM Data Solutions, the following 10 metros had the lowest average payments for single-family homes and condominiums purchased in the third quarter:

  • San Jose-Sunnyvale-Santa Clara, Calif.: $336,700
  • San Francisco-Oakland-Hayward, Calif.: $253,000
  • Los Angeles-Long Beach-Anaheim, Calif.: $166,500
  • Boulder, Colo.: $151,325
  • Oxnard-Thousand Oaks-Ventura, Calif.: $145,540
  • San Diego-Carlsbad, Calif.: $134,000
  • Bridgeport-Stamford-Norwalk, Conn.: $110,600
  • Santa Rosa, Calif.: $110,500
  • Seattle-Tacoma-Bellevue, Wash.: $107,000
  • Boston-Cambridge-Newton, Mass.-N.H.: $101,125
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