What is a 20% down payment on a typical Long Island house?
How much is a 20% down payment on the median-priced home on Long Island? Credit: Newsday/Steve Pfost
In Long Island's low-inventory, high-demand market with inflated prices, coming up with the tens of thousands of dollars needed for a down payment is daunting for many. Luckily, experts say most first-time buyers are competing with others who don't put down anything near 20%.
But what would that 20% down payment look like?
Newsday analyzed every single-family home sale for the first six months of the year, based on data from OneKey MLS.
