The way that people are financing their first home purchase is changing. More than 26% of mortgage borrowers who used FHA-insured loans received help from a relative to make the down payment, according to 2018 FHA data reported by the Wall Street Journal. That number is up from 22% in 2011.
Rising home prices and interest rates made it difficult for buyers to save enough for down payments — not to mention generally higher debt loads from college loans.7 Further adding to borrower stress is the fact that the gap between owning and renting continues to widen, according to Freddie Mac.8