Real Estate Blog

Fresno buyers make smaller down payments on homes

Home down payments fall slightly in Fresno.
Home down payments fall slightly in Fresno. Fresno Bee Staff Photo

Here’s an interesting look at how much money Fresno County homebuyers are putting down on the purchase of a home.

The average down payment for all loans made in Fresno County — conventional and Federal Housing Administration — was 12.8% during the first quarter of this year, according to a report from RealtyTrac, an online property data company. Last year at the same time, buyers put down 13.1%.

In dollars, that’s an average down payment of $33,641 early this year compared to $36,765 last year.

Buyers using a FHA loan put down an average of 2.9% while those with conventional loans made an average downpayment of 17.7%.

Nationwide, buyers put down 14.8% of the purchase price, the report said, down from 15.5% a year ago dropping to a three-year low.

Average down payments on single-family homes

County

Q1 2015

Q1 2014

Fresno

12.8%

13.1%

Madera

11%

15.1%

Merced

11.5%

10.7%

Tulare

10.1%

11%

Source: RealtyTrac

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