What is the average deposit when buying a house?

/ / Published in Q&A - Home Buying Questions

Question:

“Does a $15,000 deposit on a $1,000,000 home seem low to you?”

Answer:

No. An average deposit is about 1 to 1.5% of the purchase price. So that deposit sounds right.

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Licensed since 1984, San Diego real estate broker Gary Kent is a recognized authority on real estate. In addition to selling over 5,500 homes for clients, he has been an expert court witness, trainer of other agents, and he does seminars on home buying, home selling, and investing. Gary has sold homes for The Salvation Army, dozens of major banks, and Fannie Mae, amongst others. You can find Gary on Facebook, Instagram and YouTube.

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