Colorado Association of REALTORS | Boulder, Fort Collins in Top 10 Markets with Highest Median Down Payments
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Boulder, Fort Collins in Top 10 Markets with Highest Median Down Payments

Dec 08 2020

Boulder, Fort Collins in Top 10 Markets with Highest Median Down Payments

Faced with more expensive home prices, home buyers are bringing more money to closing. The median down payment on a single-family home and condo purchased in the third quarter increased by nearly 67% compared to a year ago. Median down payments are at the highest level recorded since at least 2000, according to a new analysis from ATTOM Data Solutions, a real estate data firm.

The median down payment of $20,775 was 6.6% of the median sales price for homes purchased with financing in the third quarter. The median loan amount was $275,500, the highest level since 2000.

ATTOM’s research shows the following 10 metros saw the highest median down payments in the third quarter:

  • San Francisco-Oakland-Hayward, Calif.: $243,000
  • Los Angeles-Long Beach-Anaheim, Calif.: $154,000
  • Oxnard-Thousand Oaks-Ventura, Calif.: $138,300
  • Boulder, Colo.: $123,600
  • Santa Rosa, Calif.: $118,550
  • San Diego-Carlsbad, Calif.: $112,000
  • Bridgeport-Stamford-Norwalk, Conn.: $106,600
  • Boston-Cambridge-Newton, Mass.-N.H.: $76,000
  • Naples-Immokalee-Marco Island, Fla.: $76,000
  • Fort Collins, Colo.: $69,125

Down payments can be among home buyers’ chief obstacle to achieving homeownership. The Federal Housing Administration offers loans with lower down payment requirements catered to first-time home buyers. Mortgages backed by FHA comprised 10.3% of all residential property loans originated in the third quarter, ATTOM Data Solutions reports.

Source: “Top U.S. Housing Markets With Highest Median Down Payments in Q3 2020,” ATTOM Data Solutions (Dec. 4, 2020)

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