40% of Homeowners Got Financial Help — 78% Among Gen Z [LendingTree Report]

LendingTree's latest survey shows just how central down payment help has become in today’s housing market, especially for younger buyers. Here's a quick look of their findings. 

• 40% of homeowners got help with their down payment, up from 35% in 2023. That includes 78% of Gen Z and 56% of millennials vs. just 12% of baby boomers. While 46% felt grateful, 21% of Gen Z say they felt embarrassed by the aid. 
• 16% of homeowners say their parents helped with their down payment, increasing to 27% among Gen Zers. Help also came from friends/family (27% Gen Z, 19% millennials) and inheritance/trusts (24% Gen Z, 15% millennials).
• More than 1 in 3 who received help say they couldn’t have bought their home without it. Support also helped 43% qualify for a mortgage, 33% lower monthly payments, and 31% afford a larger down payment.
• Optimism persists: 68% of Americans say homeownership is achievable without family wealth. Even 65% of millennials, Gen Xers, and women—and 61% of Gen Z—agree. 

You can check out the full report here: https://www.lendingtree.com/home/mortgage/down-payment-help-survey/

LendingTree's Chief Consumer Finance Analyst, Matt Schulz, had this to say:  

"It’s encouraging that most Americans still believe they can buy a home without family wealth, even as many rely on it. That optimism matters, but so does reality. Rising prices and borrowing costs have shrunk affordability, making help more impactful than ever. When over a third of buyers say they couldn’t have purchased without assistance, it shows how little financial wiggle room people have. The key for buyers is to explore every option, from savings strategies to assistance programs, not just family support.”

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