- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Minimum Amount Needed to Put Down on Home Purchase
Posted on 12/26/12 at 1:35 pm
Posted on 12/26/12 at 1:35 pm
What is the minimum amount I will need to put down on a home purchase these days? I wasn't planning on putting down for at least another year to build up but I've been encouraged during to try and jump on these interest rates before they recover.
I was planning on 10-15% next year but I heard rumors of much less. Like nothing for some.
I was planning on 10-15% next year but I heard rumors of much less. Like nothing for some.
This post was edited on 12/26/12 at 1:36 pm
8
Posted on 12/26/12 at 1:59 pm to Cajun Revolution
I think it's 20% to avoid PMI, and 10% as a minimum unless you are a veteran or qualify for a rural house loan.
Posted on 12/26/12 at 2:28 pm to Cajun Revolution
3.5% FHA
5% Conventional
Still some 0% rural/VA type loans out there I think, but I don't know much about them or who qualifies
5% Conventional
Still some 0% rural/VA type loans out there I think, but I don't know much about them or who qualifies
Posted on 12/26/12 at 3:09 pm to Cajun Revolution
$0
Posted on 12/27/12 at 9:53 am to Cajun Revolution
You can put down 0.
PMI is a bitch, but there are ways around having to pay it.
PMI is a bitch, but there are ways around having to pay it.
Posted on 12/27/12 at 9:58 am to Cajun Revolution
I would go for 20% to avoid PMI. It will add up to be alot of $.
Posted on 12/27/12 at 10:14 am to Cajun Revolution
whatever you do try to pay it off quickly... minimum amounts and extended load periods make you end up paying double actual price of the home.
Posted on 12/27/12 at 2:02 pm to Cajun Revolution
I recently bought a house with a 5% down payment on a conventional loan. Did an upfront PMI payment that came out to just under 3 total years of monthly PMI payments instead of paying it until a 78% LTV...Figured I would pay some now and have lower monthly payments for the life of the loan. I plan to be int he house for a long while
Posted on 12/27/12 at 8:26 pm to Cajun Revolution
I put down 20% to avoid the PMI. I would set a goal to do the same. However, I believe you can put down as low as 5%
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News