The Down Payment Reality Report
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As more millennials reach the ages when they're considering buying their first homes, the dire predictions that they would be too burdened by student loans or are too fond of pricey treats like avocado toast to qualify for mortgages have not come true. Millennials (ages 18-34) plan to buy homes in the next five years in much greater numbers than Generation X (ages 35-54) or baby boomers (55+), according to a new NerdWallet study.
Coming up with a large sum of money for a down payment is one of the biggest obstacles to homeownership. To explore what millennials and other generations of Americans understand about down payments, how they overcome this stumbling block and what else might be keeping them from buying a home, NerdWallet recently commissioned an online survey of more than 2,000 U.S. adults conducted by Harris Poll.
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