The typical down payment of 20 percent of the cost of a median-priced home in the U.S. requires more than two-thirds of buyers’ average annual income to qualify for competitive loan terms, according to Zillow. First-time buyers don’t have equity from a previous property, and high rents restrict savings potential. For those looking to purchase a home, saving for a down payment is the top concern. The challenge varies by region, starting with a low of 48 percent of average annual income to a high of 182 percent.
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