By Monica D. Spencer | InMaricopa.com
Homeowners need fewer years to save for a down payment on a home in Maricopa than about 90% of other American cities in a new study.
According to the financial experts at Upgraded Points in Austin, Texas, Maricopa residents need just over six years to save the 20%, or $71,000 on average, needed for a home down payment.
That’s not bad, considering Arizonans overall must save significantly more over a longer period to keep their mortgage payments affordable, according to the same study. “Long saving timelines are common in mountain states,” said Alex Miller, who headed the analysis.
