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%

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

expert verifiedVerification of experts

Answer

4.5245 Voting
avatar
AldenProfessional · Tutor for 6 years

Answer

$38\%$

Explain

## Step 1: <br />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. <br /><br />## Step 2: <br />The options provided are $2N$, 10, and $38\%$. The $2N$ and 10 options do not make sense in this context as they are not expressed as percentages. <br /><br />## Step 3: <br />In the context of home buying, down payments are usually expressed as a percentage of the total cost of the home. Therefore, the $38\%$ 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.
Click to rate:

Hot Questions

More x