Survey Says Many Couples Split Down Payments

August 3, 2016

In this day and age, couples aren’t afraid to split up… their down payments for a new house.

NerdWallet conducted an online survey of more than 2,000 U.S. adults. The site found that 41 percent of Americans that bought homes with a partner said that each person contributed equal amounts of money toward a down payment.

The survey identified a bunch of other trends as well. Among individuals who set money aside, homeowners saved an average of $1,078 monthly for their down payments, and it took homeowners three years to save for a down payment.

Nearly three-quarters of respondents said they have fears about buying a house. One of the biggest dreads was long-term commitment to a partner, particularly among Millennial males.

NerdWallet also offers tips for obtaining an affordable mortgage, including ways to clean up credit scores, and how to find the right lender and house.

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