On the highway to homeownership, coming up with a sufficient down payment continues to be one of the biggest roadblocks. In fact, many prospective home buyers, particularly first-timers, find it hard to overcome this challenge without the kindness of loved ones.
Among recent home buyers age 28 and younger (who are more likely to be first-time home buyers), 28% got down payment help from a relative or friend, according to a 2019 report from the National Association of Realtors. With home buyers ages 29 to 38, 21% re...
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