{"id":9499,"date":"2020-07-01T18:00:29","date_gmt":"2020-07-01T18:00:29","guid":{"rendered":"https:\/\/chenoafund.org\/?p=9499"},"modified":"2026-03-24T14:03:07","modified_gmt":"2026-03-24T14:03:07","slug":"21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier","status":"publish","type":"post","link":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/","title":{"rendered":"21 Years to Save 20% Down Payment: The Homebuyer Barrier"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” row_position_desktop=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” flex_gap_desktop=”10px” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”” text_direction=”default”]\n

21 Years to Save 20% Down Payment: The Homebuyer Barrier<\/strong><\/h1>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” row_position_desktop=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” flex_gap_desktop=”10px” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]Recently, U.S. Mortgage Insurers (USMI) published a report revealing that, on average, it takes borrowers <\/span>21 years to save up for a 20% down payment<\/span>. This number falls to 7 years for a 5% down payment, which is still a long period of renting and saving. In either case, waiting this long deprives borrowers of a significant amount of wealth accumulation from equity.<\/span><\/p>\n

Opportunity Costs: Losing Equity<\/b><\/p>\n

Let\u2019s put this into perspective using USMI\u2019s numbers (a national median income of $63,179 annually) and assume yearly home value appreciation of 5%. If a borrower saves for 7 years, a home worth $274,600 today (the national median average) would be worth about $386,389. A borrower saving 21 years for the same home would find a new home price of $728,595. The following chart illustrates the price difference for both scenarios and the difference in down payment costs.<\/span><\/p>\n\n\n\n\n\n\n\n\n\n
Home Value:<\/b><\/td>\n\n
$274,600.00<\/span><\/pre>\n<\/td>\n
<\/td>\n\n
Home Value:<\/b><\/pre>\n<\/td>\n
\n
$274,600.00<\/span><\/pre>\n<\/td>\n<\/tr>\n
\n
Value +7 Years:<\/b><\/pre>\n<\/td>\n
\n
$386,389.78<\/span><\/pre>\n<\/td>\n
<\/td>\n\n
Value +21 Years:<\/b><\/pre>\n<\/td>\n
\n
$728,595.55<\/span><\/pre>\n<\/td>\n<\/tr>\n
\n
Difference:<\/b><\/pre>\n<\/td>\n
\n
$111,789.78<\/span><\/pre>\n<\/td>\n
<\/td>\n\n
Difference:<\/b><\/pre>\n<\/td>\n
\n
$453,995.55<\/span><\/pre>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n
Original DP (5%):<\/b><\/pre>\n<\/td>\n
\n
$13,730.00<\/span><\/pre>\n<\/td>\n
<\/td>\n\n
Original DP (20%):<\/b><\/pre>\n<\/td>\n
\n
$54,920.00<\/span><\/pre>\n<\/td>\n<\/tr>\n
\n
DP +7 Years (5%)<\/b><\/pre>\n<\/td>\n
\n
$19,319.49<\/span><\/pre>\n<\/td>\n
<\/td>\n\n
DP +21 Years (20%)<\/b><\/pre>\n<\/td>\n
\n
$145,719.11<\/span><\/pre>\n<\/td>\n<\/tr>\n
\n
Difference:<\/b><\/pre>\n<\/td>\n
\n
$5,589.49<\/span><\/pre>\n<\/td>\n
<\/td>\n\n
Difference:<\/b><\/pre>\n<\/td>\n
\n
$90,799.11<\/span><\/pre>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
Waiting only 7 years for a 5% down payment has the lowest opportunity cost of these two scenarios, but that opportunity cost is still very stiff: $111,789.78 difference in home value lost, and a down payment over $5,000 more expensive. It\u2019s clear that waiting costs borrowers a lot of money, even when the down payment is smaller.<\/span><\/p>\n
Opportunity Costs: Worse for Minorities<\/b><\/p>\n
These numbers aren\u2019t good, and they are much worse for borrowers in demographics that statistically struggle with the down payment barrier. For example, if the above averages were broken down nationally by race, white Americans average about 20 years to save up for a 20% down payment, putting them about on par with the national average. Hispanic Americans average about 26 years, raising the above projections and wealth loss by a decent amount. Black Americans, on the other hand, average a whopping 42 years (<\/span>Private Mortgage Insurance<\/span>, 6). Black Americans are also much less likely than white Americans to have family that can assist with the down payment, making it more likely that their only option is to save up. Taking twice as long to save up for a down payment, and with home values increasing yearly, black Americans lose over twice the equity wealth that white Americans do when waiting to buy a home and saving for a down payment, whether it\u2019s a 20% down payment or a 5% down payment.<\/span><\/p>\n
Opportunity Costs: Time<\/b><\/p>\n
These numbers show a great deal of wealth lost when borrowers have to save for years for a down payment, but they don\u2019t reflect the time lost as well. Waiting 21 years for a 20% down payment (or 42 years, as is the average for black Americans) sees enough time pass to have a child grow up and move out. Waiting 7 years for a 5% down payment (14 years for black Americans) sees enough time pass that a family\u2019s babies turn into adolescents, all without the benefits of living in a home their family owns.<\/span><\/p>\n
Opportunity Costs: Rent Versus Mortgage Payment<\/b><\/p>\n
More immediately, borrowers miss out on a lot of wealth just from the difference between rent payments and mortgage payments. The <\/span>average US rent payment<\/span> is $1,343 and raises about 5% a year. Using USMI\u2019s numbers, and assuming a fixed interest rate of 3.25% (just a little higher than <\/span>the national average<\/span> of 3.15%), an average mortgage payment would be $1,195\u2014about $150 cheaper every month. This doesn\u2019t take into account insurance, HOA fees, and other costs that come with homeownership, but fixed-rate mortgage payments don\u2019t increase every year, while rent payments do.<\/span><\/p>\n
Level the Field: Down Payment Assistance<\/b><\/p>\n
At CBC Mortgage Agency, we are grateful for the efforts of groups like USMI that provide products and services that help borrowers buy a home with smaller down payments. The smaller the down payment, the sooner the borrower can buy the home and experience wealth accumulation. We also cheer that borrowers can get conventional loans with 3% down payments or FHA loans with 3.5% down payments, further lowering the down payment barrier. However, even with lower down payment options available, the down payment barrier is still very real, and still prevents many borrowers, particularly low-income borrowers, from buying a home and accumulating wealth. The next step needed to level the playing field and empower as many creditworthy borrowers as possible is down payment assistance.<\/span><\/p>\n
Down payment assistance allows borrowers to purchase a home for $0 down, and sometimes even helps with closing costs. The difference in wealth accumulation is staggering for borrowers who can buy a home now. All the numbers presented above\u2014the tens and hundreds of thousands of dollars lost as borrowers waited to save for a down payment\u2014becomes future wealth when borrowers can buy now.<\/span><\/p>\n
Actual Results: Chenoa Fund\u2019s Success<\/b><\/p>\n
Tens of thousands of borrowers have used Chenoa Fund to purchase a home, many of which were first-time homebuyers and\/or minorities, and their stories are a testament to the importance of down payment assistance. For example, borrowers that received Chenoa Fund\u2019s assistance in 2016 have since averaged over $59,000 in wealth accumulation! From 2016 to 2019, all borrowers included, Chenoa Fund borrowers have averaged over $24,000 in wealth accumulation. This difference is life changing.<\/span><\/p>\n
Chenoa Fund isn\u2019t the only down payment product on the market, and wise borrowers will shop around to find the down payment assistance that fits their unique situation best. This is a good thing\u2014more competition means more innovation to provide a better product to borrowers, and prevents the harm or stagnation that comes with monopolies. More access to down payment assistance, specifically assistance that targets creditworthy borrowers, can only help improve American homeownership across the board, and help low- to moderate-income borrowers break the down payment barrier and see real wealth accumulation now.<\/span>[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"
[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” row_position_desktop=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” flex_gap_desktop=”10px”…<\/p>\n","protected":false},"author":4,"featured_media":9500,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36,112],"tags":[264,148],"class_list":{"0":"post-9499","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-chenoa-talk-homebuyer","8":"category-realtors","9":"tag-20-down-payment","10":"tag-down-payment"},"yoast_head":"\n21 Years to Save 20% Down Payment: The Homebuyer Barrier - CBC Mortgage Agency<\/title>\n<meta name=\"description\" content=\"A recent USMI report reveals that the average time needed to save for a 20% down payment on a home is 21 years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"21 Years to Save 20% Down Payment: The Homebuyer Barrier - CBC Mortgage Agency\" \/>\n<meta property=\"og:description\" content=\"A recent USMI report reveals that the average time needed to save for a 20% down payment on a home is 21 years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/\" \/>\n<meta property=\"og:site_name\" content=\"CBC Mortgage Agency\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ChenoaFundOfficial\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-01T18:00:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-24T14:03:07+00:00\" \/>\n<meta name=\"author\" content=\"James Bethe\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Chenoa_Fund\" \/>\n<meta name=\"twitter:site\" content=\"@Chenoa_Fund\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"James Bethe\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/\"},\"author\":{\"name\":\"James Bethe\",\"@id\":\"https:\\\/\\\/chenoafund.org\\\/#\\\/schema\\\/person\\\/299cfb8c03905ace40291040893ccc4b\"},\"headline\":\"21 Years to Save 20% Down Payment: The Homebuyer Barrier\",\"datePublished\":\"2020-07-01T18:00:29+00:00\",\"dateModified\":\"2026-03-24T14:03:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/\"},\"wordCount\":1296,\"publisher\":{\"@id\":\"https:\\\/\\\/chenoafund.org\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"20% down payment\",\"down payment\"],\"articleSection\":[\"Chenoa Talk - Homebuyer\",\"Realtors\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/\",\"url\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/\",\"name\":\"21 Years to Save 20% Down Payment: The Homebuyer Barrier - CBC Mortgage Agency\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/chenoafund.org\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2020-07-01T18:00:29+00:00\",\"dateModified\":\"2026-03-24T14:03:07+00:00\",\"description\":\"A recent USMI report reveals that the average time needed to save for a 20% down payment on a home is 21 years.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/chenoafund.org\\\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/chenoafund.org\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"21 Years to Save 20% Down Payment: The Homebuyer Barrier\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/chenoafund.org\\\/#website\",\"url\":\"https:\\\/\\\/chenoafund.org\\\/\",\"name\":\"Chenoa Fund\",\"description\":\"A down payment assistance program.\",\"publisher\":{\"@id\":\"https:\\\/\\\/chenoafund.org\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/chenoafund.org\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/chenoafund.org\\\/#organization\",\"name\":\"Chenoa Fund\",\"url\":\"https:\\\/\\\/chenoafund.org\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/chenoafund.org\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/chenoafund.org\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Logo.jpg?fit=500%2C500&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/chenoafund.org\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Logo.jpg?fit=500%2C500&ssl=1\",\"width\":500,\"height\":500,\"caption\":\"Chenoa Fund\"},\"image\":{\"@id\":\"https:\\\/\\\/chenoafund.org\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/ChenoaFundOfficial\",\"https:\\\/\\\/x.com\\\/Chenoa_Fund\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/cbc-mortgage-agency\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCjSqN9lHVbBrdn7u9tpPTDA\",\"https:\\\/\\\/www.instagram.com\\\/chenoafundofficial\\\/\",\"https:\\\/\\\/www.tiktok.com\\\/@chenoafund\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/chenoafund.org\\\/#\\\/schema\\\/person\\\/299cfb8c03905ace40291040893ccc4b\",\"name\":\"James Bethe\",\"url\":\"https:\\\/\\\/chenoafund.org\\\/author\\\/jamesbethe\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"21 Years to Save 20% Down Payment: The Homebuyer Barrier - CBC Mortgage Agency","description":"A recent USMI report reveals that the average time needed to save for a 20% down payment on a home is 21 years.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/","og_locale":"en_US","og_type":"article","og_title":"21 Years to Save 20% Down Payment: The Homebuyer Barrier - CBC Mortgage Agency","og_description":"A recent USMI report reveals that the average time needed to save for a 20% down payment on a home is 21 years.","og_url":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/","og_site_name":"CBC Mortgage Agency","article_publisher":"https:\/\/www.facebook.com\/ChenoaFundOfficial","article_published_time":"2020-07-01T18:00:29+00:00","article_modified_time":"2026-03-24T14:03:07+00:00","author":"James Bethe","twitter_card":"summary_large_image","twitter_creator":"@Chenoa_Fund","twitter_site":"@Chenoa_Fund","twitter_misc":{"Written by":"James Bethe","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/#article","isPartOf":{"@id":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/"},"author":{"name":"James Bethe","@id":"https:\/\/chenoafund.org\/#\/schema\/person\/299cfb8c03905ace40291040893ccc4b"},"headline":"21 Years to Save 20% Down Payment: The Homebuyer Barrier","datePublished":"2020-07-01T18:00:29+00:00","dateModified":"2026-03-24T14:03:07+00:00","mainEntityOfPage":{"@id":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/"},"wordCount":1296,"publisher":{"@id":"https:\/\/chenoafund.org\/#organization"},"image":{"@id":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/#primaryimage"},"thumbnailUrl":"","keywords":["20% down payment","down payment"],"articleSection":["Chenoa Talk - Homebuyer","Realtors"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/","url":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/","name":"21 Years to Save 20% Down Payment: The Homebuyer Barrier - CBC Mortgage Agency","isPartOf":{"@id":"https:\/\/chenoafund.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/#primaryimage"},"image":{"@id":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/#primaryimage"},"thumbnailUrl":"","datePublished":"2020-07-01T18:00:29+00:00","dateModified":"2026-03-24T14:03:07+00:00","description":"A recent USMI report reveals that the average time needed to save for a 20% down payment on a home is 21 years.","breadcrumb":{"@id":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/chenoafund.org\/21-years-to-a-20-down-payment-usmi-reveals-the-massive-down-payment-barrier\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/chenoafund.org\/"},{"@type":"ListItem","position":2,"name":"21 Years to Save 20% Down Payment: The Homebuyer Barrier"}]},{"@type":"WebSite","@id":"https:\/\/chenoafund.org\/#website","url":"https:\/\/chenoafund.org\/","name":"Chenoa Fund","description":"A down payment assistance program.","publisher":{"@id":"https:\/\/chenoafund.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/chenoafund.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/chenoafund.org\/#organization","name":"Chenoa Fund","url":"https:\/\/chenoafund.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/chenoafund.org\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/chenoafund.org\/wp-content\/uploads\/2023\/09\/Logo.jpg?fit=500%2C500&ssl=1","contentUrl":"https:\/\/i0.wp.com\/chenoafund.org\/wp-content\/uploads\/2023\/09\/Logo.jpg?fit=500%2C500&ssl=1","width":500,"height":500,"caption":"Chenoa Fund"},"image":{"@id":"https:\/\/chenoafund.org\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ChenoaFundOfficial","https:\/\/x.com\/Chenoa_Fund","https:\/\/www.linkedin.com\/company\/cbc-mortgage-agency","https:\/\/www.youtube.com\/channel\/UCjSqN9lHVbBrdn7u9tpPTDA","https:\/\/www.instagram.com\/chenoafundofficial\/","https:\/\/www.tiktok.com\/@chenoafund"]},{"@type":"Person","@id":"https:\/\/chenoafund.org\/#\/schema\/person\/299cfb8c03905ace40291040893ccc4b","name":"James Bethe","url":"https:\/\/chenoafund.org\/author\/jamesbethe\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/chenoafund.org\/wp-json\/wp\/v2\/posts\/9499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chenoafund.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chenoafund.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/chenoafund.org\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/chenoafund.org\/wp-json\/wp\/v2\/comments?post=9499"}],"version-history":[{"count":2,"href":"https:\/\/chenoafund.org\/wp-json\/wp\/v2\/posts\/9499\/revisions"}],"predecessor-version":[{"id":17895,"href":"https:\/\/chenoafund.org\/wp-json\/wp\/v2\/posts\/9499\/revisions\/17895"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/chenoafund.org\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/chenoafund.org\/wp-json\/wp\/v2\/media?parent=9499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chenoafund.org\/wp-json\/wp\/v2\/categories?post=9499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chenoafund.org\/wp-json\/wp\/v2\/tags?post=9499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}