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23-03-2022
Mathematics

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Why are first time home buyers, on average, only able to pay around 5% for a down payment on a house?

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allordm7897 allordm7897

23-03-2022

Answer:

They don't have enough money to pay the full price so they have no option but to pay what they have in their saving account. Also as a first down payment its allowed to start from 3% and up. The much down payment the lower they will pay every month.

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