Table 5-5: Effect of Changes in Required Down Payment on Affordability Status of Families and Unrelated Individuals for a Median-Priced Home, by Current Tenure and Type of Financing: United States, 1995 (Numbers in thousands. Data may not add to total due to rounding) ------------------------------------------------------------------------------------------------------------------------------------------------- | Cannot afford median-priced home in area | |----------------------------------------------------------------------------------------------------------------| | Families | | |------------------------------------------------------------------------------------------| | | | |Male householder, no |Female householder, no | Unrelated | | Total | Married-couple |wife present |husband present | Individuals | |----------------------|---------------------|---------------------|-----------------------|---------------------| Change in required downpayment | Number | Percent | Number | Percent | Number | Percent | Number | Percent | Number | Percent | -------------------------------|-----------|----------|----------|----------|----------|----------|-----------|-----------|----------|----------| USING CONVENTIONAL, FIXED-RATE,| | | | | | | | | | | 30-YEAR FINANCING | | | | | | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | 20 percent down required.......| 41,443 | 56.9 | 26,263 | 48.0 | 2,427 | 75.7 | 12,753 | 85.4 | 29,376 | 77.5 | 15 percent down required.......| 40,332 | 55.3 | 25,211 | 46.0 | 2,399 | 74.8 | 12,722 | 85.2 | 29,139 | 76.9 | 10 percent down required.......| 39,211 | 53.8 | 24,174 | 44.2 | 2,377 | 74.1 | 12,661 | 84.8 | 28,918 | 76.3 | 7.5 percent down required......| 38,617 | 53.0 | 23,624 | 43.1 | 2,349 | 73.2 | 12,645 | 84.7 | 28,824 | 76.0 | 5 percent down required........| 38,075 | 52.2 | 23,110 | 42.2 | 2,349 | 73.2 | 12,616 | 84.5 | 28,648 | 75.6 | 2.5 percent down required......| 37,576 | 51.5 | 22,641 | 41.4 | 2,338 | 72.9 | 12,597 | 84.3 | 28,487 | 75.1 | No down payment required.......| 36,899 | 50.6 | 22,010 | 40.2 | 2,312 | 72.1 | 12,578 | 84.2 | 28,253 | 74.5 | | | | | | | | | | | | | | | | | | | | | | | Current owners | | | | | | | | | | | 20 percent down required.......| 20,939 | 40.7 | 15,090 | 35.3 | 1,081 | 59.0 | 4,768 | 69.5 | 9,900 | 57.0 | 15 percent down required.......| 19,951 | 38.8 | 14,155 | 33.1 | 1,053 | 57.4 | 4,743 | 69.1 | 9,728 | 56.0 | 10 percent down required.......| 18,971 | 36.9 | 13,234 | 30.9 | 1,038 | 56.6 | 4,698 | 68.5 | 9,604 | 55.3 | 7.5 percent down required......| 18,524 | 36.0 | 12,803 | 29.9 | 1,022 | 55.8 | 4,698 | 68.5 | 9,559 | 55.0 | 5 percent down required........| 18,086 | 35.1 | 12,394 | 29.0 | 1,022 | 55.8 | 4,670 | 68.0 | 9,455 | 54.4 | 2.5 percent down required......| 17,748 | 34.5 | 12,080 | 28.2 | 1,012 | 55.2 | 4,657 | 67.9 | 9,381 | 54.0 | No down payment required.......| 17,313 | 33.6 | 11,657 | 27.3 | 1,004 | 54.8 | 4,652 | 67.8 | 9,309 | 53.6 | | | | | | | | | | | | | | | | | | | | | | | Current renters | | | | | | | | | | | 20 percent down required.......| 20,504 | 95.7 | 11,173 | 93.3 | 1,346 | 98.0 | 7,985 | 98.9 | 19,476 | 94.8 | 15 percent down required.......| 20,381 | 95.1 | 11,056 | 92.3 | 1,346 | 98.0 | 7,979 | 98.8 | 19,411 | 94.5 | 10 percent down required.......| 20,241 | 94.5 | 10,940 | 91.3 | 1,338 | 97.4 | 7,963 | 98.6 | 19,314 | 94.0 | 7.5 percent down required......| 20,094 | 93.8 | 10,821 | 90.3 | 1,326 | 96.5 | 7,947 | 98.4 | 19,265 | 93.8 | 5 percent down required........| 19,989 | 93.3 | 10,716 | 89.5 | 1,326 | 96.5 | 7,947 | 98.4 | 19,193 | 93.4 | 2.5 percent down required......| 19,828 | 92.5 | 10,561 | 88.2 | 1,326 | 96.5 | 7,941 | 98.4 | 19,106 | 93.0 | No down payment required.......| 19,586 | 91.4 | 10,353 | 86.4 | 1,308 | 95.2 | 7,925 | 98.2 | 18,944 | 92.2 | | | | | | | | | | | | ------------------------------------------------------------------------------------------------------------------------------------------------- Table 5-5: Effect of Changes in Required Down Payment on Affordability Status of Families and Unrelated Individuals for Current Tenure and Type of Financing for a Median-Priced Home: United States, 1995 - Continued (Numbers in thousands. Data may not add to total due to rounding) ------------------------------------------------------------------------------------------------------------------------------------------------- | Cannot afford median-priced home in area | |----------------------------------------------------------------------------------------------------------------| | Families | | |------------------------------------------------------------------------------------------| | | | |Male householder, no |Female householder, no | Unrelated | | Total | Married-couple |wife present |husband present | Individuals | |----------------------|---------------------|---------------------|-----------------------|---------------------| Change in required downpayment | Number | Percent | Number | Percent | Number | Percent | Number | Percent | Number | Percent | -------------------------------|-----------|----------|----------|----------|----------|----------|-----------|-----------|----------|----------| USING FHA, FIXED-RATE, 30-YEAR | | | | | | | | | | | FINANCING | | | | | | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | 20 percent down required.......| 40,047 | 54.9 | 24,890 | 45.5 | 2,423 | 75.5 | 12,734 | 85.3 | 29,152 | 76.9 | 15 percent down required.......| 39,112 | 53.7 | 24,014 | 43.9 | 2,393 | 74.6 | 12,705 | 85.1 | 28,970 | 76.4 | 10 percent down required.......| 38,106 | 52.3 | 23,074 | 42.1 | 2,365 | 73.8 | 12,667 | 84.8 | 28,772 | 75.9 | 7.5 percent down required......| 37,664 | 51.7 | 22,659 | 41.4 | 2,365 | 73.8 | 12,640 | 84.6 | 28,623 | 75.5 | 5 percent down required........| 37,180 | 51.0 | 22,205 | 40.6 | 2,347 | 73.2 | 12,629 | 84.6 | 28,469 | 75.1 | 2.5 percent down required......| 37,160 | 51.0 | 22,184 | 40.5 | 2,347 | 73.2 | 12,629 | 84.6 | 28,481 | 75.1 | No down payment required.......| 37,160 | 51.0 | 22,184 | 40.5 | 2,347 | 73.2 | 12,629 | 84.6 | 28,481 | 75.1 | | | | | | | | | | | | | | | | | | | | | | | Current owners | | | | | | | | | | | 20 percent down required.......| 19,731 | 38.3 | 13,885 | 32.5 | 1,082 | 59.0 | 4,764 | 69.4 | 9,728 | 56.0 | 15 percent down required.......| 18,926 | 36.8 | 13,130 | 30.7 | 1,055 | 57.6 | 4,741 | 69.1 | 9,632 | 55.5 | 10 percent down required.......| 18,109 | 35.2 | 12,355 | 28.9 | 1,039 | 56.7 | 4,715 | 68.7 | 9,533 | 54.9 | 7.5 percent down required......| 17,724 | 34.4 | 11,997 | 28.0 | 1,039 | 56.7 | 4,688 | 68.3 | 9,454 | 54.4 | 5 percent down required........| 17,412 | 33.8 | 11,709 | 27.4 | 1,021 | 55.7 | 4,683 | 68.2 | 9,380 | 54.0 | 2.5 percent down required......| 17,406 | 33.8 | 11,702 | 27.4 | 1,021 | 55.7 | 4,683 | 68.2 | 9,392 | 54.1 | No down payment required.......| 17,406 | 33.8 | 11,702 | 27.4 | 1,021 | 55.7 | 4,683 | 68.2 | 9,392 | 54.1 | | | | | | | | | | | | | | | | | | | | | | | Current renters | | | | | | | | | | | 20 percent down required.......| 20,316 | 94.8 | 11,005 | 91.9 | 1,341 | 97.6 | 7,970 | 98.7 | 19,424 | 94.5 | 15 percent down required.......| 20,186 | 94.2 | 10,884 | 90.9 | 1,338 | 97.4 | 7,964 | 98.7 | 19,338 | 94.1 | 10 percent down required.......| 19,997 | 93.3 | 10,719 | 89.5 | 1,326 | 96.5 | 7,952 | 98.5 | 19,239 | 93.6 | 7.5 percent down required......| 19,940 | 93.1 | 10,662 | 89.0 | 1,326 | 96.5 | 7,952 | 98.5 | 19,169 | 93.3 | 5 percent down required........| 19,768 | 92.3 | 10,496 | 87.6 | 1,326 | 96.5 | 7,946 | 98.4 | 19,090 | 92.9 | 2.5 percent down required......| 19,754 | 92.2 | 10,482 | 87.5 | 1,326 | 96.5 | 7,946 | 98.4 | 19,089 | 92.9 | No down payment required.......| 19,754 | 92.2 | 10,482 | 87.5 | 1,326 | 96.5 | 7,946 | 98.4 | 19,089 | 92.9 | | | | | | | | | | | | -------------------------------------------------------------------------------------------------------------------------------------------------