Down payment sources from gifts-loans are on the rise.
The study says 37 per cent of FTBs ( first time buyers) received a gift or loan from the Bank of Mom&Dad, up significantly from 32 per cent in the 2017 study. Half of those who received a gift or loan say that without it they would have delayed buying a home in order to save for a larger down payment, whereas 32 per cent would have purchased with a smaller down payment and 15 per cent would have sought a lower priced home.
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