Why trying to save 20 percent on a home down payment isn’t realistic

Source: Michele Lerner, Washington Post (Paid Registration)

It would take an average of 36 years for someone earning the median income in the District to save for a 20 percent down payment on a median-priced house, according to a recent report from U.S. Mortgage Insurers (USMI), an association representing private mortgage insurance companies.

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