Home
/
Business
/
A Good Rule of Thumb When Budgeting for a Home Is to Expect to Make a __ Down Payment. 2N Sea to 38%

Question

A good rule of thumb when budgeting for a home is to expect to make a __ down payment. 2N sea to 38%

Answer

4.5 (245 Votes)
Verificación de expertos
Alden Professional · Tutor for 6 years

Answer

Explanation

## Step 1: The question is asking for a general rule of thumb when budgeting for a home, specifically in terms of the down payment. A down payment is a portion of the total cost of a home that you pay upfront. ## Step 2: The options provided are , 10, and . The and 10 options do not make sense in this context as they are not expressed as percentages. ## Step 3: In the context of home buying, down payments are usually expressed as a percentage of the total cost of the home. Therefore, the option seems to be the most logical answer. However, it's important to note that this is not a standard percentage for a down payment. The typical down payment percentage is often recommended to be 20%, as this can help avoid the need for Private Mortgage Insurance (PMI) and can result in lower monthly mortgage payments.