The Sentinel Real Estate Roundup

As down payments rise, many buyers rely on gifts from family

By Jeffery Marino

What’s a first-time homebuyer to do?

As home prices rise, so do down payments. The median sale price for a home in Northeast Los Angeles was $1.075 million in October. At that price, a buyer would need $215,000 to make a 20% down payment.

To make matters more difficult, buyers who need time to save up for a house are likely to find that home prices rise faster than their savings accounts. There’s more. Read on.

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