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)
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.