re: What's the most amount of money you'd put down on a new house? It would be a new build.

quote:

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Why? I have not paid the pmi fee in 30 years. Only paid it on my first house. So disagree with you. First house was also my only 30 year mortgage.

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Because for first time homebuyers, especially in the current market, home prices may very well outpace your ability to save the cash you can save for a down payment.

Paying pmi is such a minuscule cost compared to what you can “lose” by waiting until you have the full 20%.


A big factor in my personal networth has been buying my first house for what I did and selling it a few years later for what I did. I only out 10% down to buy the house. It was in an incredibly desirable neighborhood that was only getting more and more expensive.

If I had waited another year or two to save up the additional 10%, the market would have passed me by and I would have had to buy a less desirable house in a less desirable neighborhood.



Also if you are still paying rent to a landlord because you don’t want to pay pmi, then you might be an idiot.