The average downpayment varies based on a number of factors, including the type of financing and the price range of the property. Here are a few examples. Get back to me with your situation and I will try to zero-in on your situation:
1. FHA financing calls for 3.5% down payment.
2. Conventional loans under $417,000 (this amount varies across the country) will likely call for around 10% down.
3. Buyers who do not want to pay mortgage insurance put down 20% because that is the amount which allows the buyer to skip mortgage insurance.
4. Non-conforming loans, i.e. loans over $417,000 (this amount varies across the country) usually call for at least 20% down.
5. Owner financing downpayments vary greatly, but 10% is minimum usually required. This requirement grows from the costs to close a deal, which often are around 9% of the purchase price.