Survey: 53% of Americans prefer 10% down payment for mortgages

ALTHOUGH a 20 PERCENT down payment is required to avoid mortgage insurance premiums on home purchases, a 10 percent down payment is seen by most Americans as the ideal amount, according to a recent survey by American Financing, a national mortgage banker. / PBN FILE PHOTO/MICHAEL SALERNO
ALTHOUGH a 20 PERCENT down payment is required to avoid mortgage insurance premiums on home purchases, a 10 percent down payment is seen by most Americans as the ideal amount, according to a recent survey by American Financing, a national mortgage banker. / PBN FILE PHOTO/MICHAEL SALERNO
AURORA, Colo. – Although a 20 percent down payment is required to avoid mortgage insurance premiums on home purchases, a 10 percent down payment is seen by most Americans as the ideal amount. This, according to a survey released last week by American Financing, a national mortgage banker. Its 2017 Mortgages in America Survey examined…

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