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Amount of down payment people believe is needed for a mortgage U.S. 2017, by age

Published by Statista Research Department, Nov 6, 2020
This statistic shows the amount of down payment people believe is needed for a mortgage in the United States in 2017, by age. During the survey, 35 percent of respondents aged 18 to 34 said that they believed a 15 percent or higher down payment was needed to get a mortgage.

Amount of down payment people believe is needed for a mortgage in the United States in 2017, by age

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Source

Release date

July 2017

Region

United States

Survey time period

May 8 to 17, 2017

Number of respondents

1,501 respondents

Age group

18 years and older

Method of interview

Telephone interview

Supplementary notes

This question was phrased by the source as follows: "as you probably know, most banks and lenders require a down payment on the cost of the home before they will approve a mortgage. If you were to buy a home today, what percentage of the total purchase price do you expect a bank or lending company would require as a down payment for a home mortgage?"

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