Residential

Denver-area home buyers who wait will need a bigger down payment

Metro Denver house hunters who plan to wait another year to buy a home using a conventional mortgage should prepare to set aside more money for the down payment.

Real estate firm Zillow projects metro Denver’s median home price will rise from $372,800 in September to $383,667 a year later. That would lift a 20 percent down payment from $74,560 to $76,733, which translates into an extra $181 a month in savings.

That increase, however, is tamer than in recent years, when home price gains were more heated. Zillow measures home price inflation in metro Denver at 7.2 percent the past year, but predicts it will slow to 2.9 percent through next September.

Read Article at DenverPost.com

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