Redefining The American Dream

Americans Cant Afford Downpayment

Posted on Wednesday, June 23, 2010

According to the National Foundation for Credit Counseling many Americans are having trouble coming up with a 20% downpayment. Usually only a problem for first time buyers. But now no on has equity when they sell. Average home price is just under %200K, 20% down is $40k. Those with poor credit need more. Many still out of work.

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