How long it takes to save a first-time home down payment across US

It can take 65 years to afford a home in New York City, here’s where it only takes 4

Big Apple’s median first-time buyer down payment is $265,000

How long it takes to save a first-time home down payment across US

In New York City, first-time homebuyers need to wait the longest time in the nation to save up for a down payment.

Where Can First-Time Buyers Save for Down Payments Fastest?

Aspiring first-time buyers may want to consider settling down in Detroit, Virginia Beach or Warren, Michigan, where a typical household would need just a few years to save the median down payment. This, according to new analysis from Rocket that estimates the time it would take a typical household to save for a down payment… The post Where Can First-Time Buyers Save for Down Payments Fastest? appeared first on RISMedia.

Report: First-time Homebuyers in Detroit and Warren Lead Nation in Low Down Payments

First-time homebuyers in Detroit and nearby Warren can save for a down payment in less than four years, according to report by Rocket. // Stock photo First-time homebuyers in Detroit and Warren can save for a down payment in less than four years, making them areas where first-time buyers can save up a down payment the fastest, according to report released today by Detroit-based Rocket. Detroit and Warren are followed by Virginia Beach, Va., Fort…

Saving For A Down Payment Could Take 65 Years — Depending On The Market

For many first-time buyers, the biggest obstacle isn't qualifying for a mortgage — it's accumulating enough cash for a down payment. But just how difficult that challenge is depends heavily on where they live.A new Rocket Mortgage analysis found a typical household would need 65 years to save the median first-time homebuyer down payment in New York City, compared with just 3.9 years in Detroit.