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Message
re: Down payment on a home - how much is too much?
Posted on 2/22/13 at 8:08 am to Civildawg
Posted on 2/22/13 at 8:08 am to Civildawg
quote:
If you got the cash laying around and you plan on staying at this house awhile put atleast 22% to get rid of PMI
If you put down 20% you don't need 22% equity. You never have PMI to begin with. Need a dedicated MT admin as of late.
Put down 20%. Go conventional. Secure sub 4% money for 30 years. Parlay that extra money you could put down into other investments that historically have made a higher return yearly that equity in your home.
/thread
1
Posted on 2/22/13 at 8:29 am to ItNeverRains
Whatever you need to put down to avoid PMI is all I would put down. They've got 15 year rates under 3% right now or you can do the 30 year in the mid 3s% right now. If you itemize I guess that means you may be effectively paying interest around 2%.
This post was edited on 2/22/13 at 8:30 am
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