Started By
Message

Age when bought first home ?

Posted on 1/29/14 at 6:56 am
Posted by BearCrocs
Member since Aug 2013
6429 posts
Posted on 1/29/14 at 6:56 am
How old were you when you bought your first home ..

And how much did you put down ?

I'm on course to buy a house at 30 and put down 20 percent .. Everyone says 20 PERCENT!!

Posted by notiger1997
Metairie
Member since May 2009
58103 posts
Posted on 1/29/14 at 7:01 am to
26. Had a family member give us some money so we could do 20% down.
Posted by PurpleAndGold86
Member since Jun 2012
11036 posts
Posted on 1/29/14 at 7:16 am to
Me and my wife bought our house at 24. It was a little pricey and really stretched us out at the time of the purchase. We put 5% down.
Posted by agdoctor
Louisiana
Member since Dec 2004
3142 posts
Posted on 1/29/14 at 7:24 am to
1st and last I hope at 29
Posted by OnTheBrink
TN
Member since Mar 2012
5418 posts
Posted on 1/29/14 at 7:27 am to
I was 24, put down nothing. Used a THDA loan, no down payment, etc. It was a $91,500 starter home. I would not recommend using a program like that to anyone.

Wife moved in next door a month earlier, we did not know each other at the time but ended up getting closer, and eventually married. As the family grew we bought the house we are in now 4 years later. I know, CSB.

Posted by The Stash
The Boot
Member since Jan 2014
1308 posts
Posted on 1/29/14 at 7:28 am to
24 bought it with my fiancé and my grandmother made me promise not to live with her until we got married. So I had a mortgage payment on a house for almost 8 monts before I could move in
Posted by notiger1997
Metairie
Member since May 2009
58103 posts
Posted on 1/29/14 at 7:36 am to
While engaged my wife and I lived with her parents for 6 months. Slept in separate rooms of course.

My wife had moved back in with her folks after college. This kind of stuff allowed us to save pretty damn quickly. More people should consider this kind of thing instead of barely scraping up enough to get a down payment and then spending way too much of their income on a house note.
Posted by Salmon
On the trails
Member since Feb 2008
83523 posts
Posted on 1/29/14 at 7:51 am to
27

we put down the minimum at 3.5% because IR% was so low

PMI wasn't that much
Posted by LSUtigerME
Walker, LA
Member since Oct 2012
3789 posts
Posted on 1/29/14 at 7:59 am to
23

Put down minimum of 3% I think (FHA). Prob overspent but like the neighborhood. Barely made the down payment since we had also just paid $20k-ish for a wedding. No gifts from anyone. Probably would do differently today.

Plan to move out within a few years (about age 30) and will try to put down 10-20%, depending on interest rates, PMI, and if we build.
Posted by Chris4x4gill2
North Alabama
Member since Nov 2008
3092 posts
Posted on 1/29/14 at 8:10 am to
24 - 20% down
Posted by nolanola
Member since Nov 2010
7580 posts
Posted on 1/29/14 at 8:17 am to
25, I don't recall exactly buy it was in the 15-20% range.
Posted by Lsut81
Member since Jun 2005
80095 posts
Posted on 1/29/14 at 8:19 am to
21 w/3% down... Best investment I ever made.

When I sold, I walked away with 47k
Posted by lsubandmom
Houston/Lafayette
Member since Oct 2007
902 posts
Posted on 1/29/14 at 8:40 am to
20 - 30%
It was in the 70's and house was $27,000. One of the best investments we ever made.
Posted by ell_13
Member since Apr 2013
84943 posts
Posted on 1/29/14 at 8:51 am to
24 rural development load. 135k starter. No money down.
Posted by Bear Is Dead
Monroe
Member since Nov 2007
4696 posts
Posted on 1/29/14 at 9:14 am to
quote:

It was in the 70's and house was $27,000. One of the best investments we ever made.

Yea I would say so
Posted by Oenophile Brah
The Edge of Sanity
Member since Jan 2013
7540 posts
Posted on 1/29/14 at 9:25 am to
Much too late.

30-20% down

I could have and should have made the move 4-5 years earlier. C'est la vie!

I bought a double in Uptown NOLA. Nothing like receiving 85% of the entire mortgage from someone else.
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
75148 posts
Posted on 1/29/14 at 9:29 am to
21
Posted by TexasTiger34
Austin, Kind of
Member since Mar 2008
11338 posts
Posted on 1/29/14 at 9:58 am to
I'm 28, plan on it when I'm 30. Will put 20% down.
Am I doing it wrong?
Posted by Salmon
On the trails
Member since Feb 2008
83523 posts
Posted on 1/29/14 at 10:12 am to
quote:

I'm 28, plan on it when I'm 30. Will put 20% down.
Am I doing it wrong?


depends

if the IR% is still low, and you don't require much of a PMI, it really isn't necessary to put down 20%
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 1/29/14 at 10:17 am to
41 and I put down significantly more than 20% in order to avoid the jumbo loan interest rate.

I see no reason to buy a house until you're married and have/having kids.
first pageprev pagePage 1 of 4Next pagelast page

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram