In April 2025, U.S. homebuyers put down less money on home purchases for the first time in nearly two years, with the median down payment dipping 1% year-over-year to $62,468, according to Redfin. While down payments as a percentage of purchase price remain around 15%, the dollar amount has declined as buyers shift toward lower-priced homes amid high mortgage rates and economic uncertainty.

The report highlights that nearly one-third of purchases are still made in cash—often for higher-end homes—while those using mortgages are gravitating toward more affordable options. Use of government-backed loans like FHA and VA is rising, as buyers seek lower-cost financing.

With housing costs high and financial concerns growing, many buyers are carefully managing their finances—comparing lenders, fees, and seeking assistance programs. Despite easing mortgage rates from their 2023 highs, affordability remains a major hurdle.

It’s important to choose a lender that will guide you through the homebuying process and advise you on all your options.

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