Typical homebuyer puts down 16% when buying a home

[gromicko (Nick Gromicko, CMI)]

Source: Redfin

[evandeven (Eric Van De Ven, CMI)]

I’m guessing that is an average. I don’t think many would be dumb enough to put down 16%, when 4% more, eliminates escrow accounts as well as mortgage insurance.

[bhull1 (Bert Hull, CMI® TN #1162)]

Unfortunately, that is the median. So over 50% of buyers are paying the rip-off PMI.