Buying first house, put money down or zero down?

This is very general....more specifics

Putting 20% down to avoid PMI and get the best conventional rate is the best option when nothing else is considered. You need to be more specific though.

How comfortable can you make a 20% downpayment?
What are you approved for?
How long do you plan on staying in the house?

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This is very general....more specifics

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Yep.

Can you make a 20% down payment and still have a reserve fund to cover 6 months of expenses? You don't want to burn your savings on a down payment and then have limited funds if a layoff/injury/emergency happens.

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Yea looking at it as an ivestment, possibly keep it and rent it out after. Five yrs is the max I would be looking to stay in it. Also it would probably be closer to 10% down than 20%.

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Just 10%?

You'll have to account for PMI or MIP in your rental price. What's the average rent in the area with comparable houses?

If the house is priced at $200k, then putting 10% down gives you an average mortgage payment of $1217 at a 4% interest rate.

Could you rent the house at $1500/month? Even five years from now if the rental market goes up?

That's still only $283/month of cushion. You'll have to pay taxes on your rental income, so that monthly number is even smaller than you realize.

What happens if the a/c goes out? Or the tenants up and leave? Or any of the other random and "never expected that" bullshite that pops up with being a landlord.

I've been through this. If I could give you any advice in life, it would be to run from this situation really far and wide. Buy a house because you don't want to deal with a landlord, because you want to save a bit in the monthly payments vs. renting, and because you've found a house you like in a desirable area that will hopefullysell for higher than you bought it.

Don't just buy a house because you can and might maybe kinda rent it out later.

If it's not a long term house, then I wouldn't recommend buying with PMI. Long term with no plans to sell you can get into your house earlier and you aren't worried about selling.

Just remember that selling a house is gonna take 6-8%, between realtor fees and closing costs. Maybe more.

So if you buy a house with 10% down, the market could easily take a 15% down turn and are barely breaking even.

For a first time buyer, unless you are buyer a major fixer upper I wouldn't recommend planning on renting. Now if it's like a foreclosure you get for a very good deal and do a lot of work on, sure that could make a lot of sense. But if this is a $250k house you may rent for $1600 in 4 years then no way in hell I'd recommend this.

If you qualify you can get an FHA loan with just 5% down and no PMI. Are you in Laffy?

Now I am back in Saint Tammany now around the Mandeville Covington area, I know I can get a rural development loan which is 0% down I'm not sure if I can get a FHA 5% and no PMI hear though I will have to check into that. When I get back to my computer I will put more information down as to my concerns. The rising interest rates along with home values In Saint Tammany being close to maxed out have me nervous.

It’s not real. Even if it was, I’m sure you would end up paying the equivalent of PMI with a higher rate or fees.

Banks aren’t stupid. If it sounds too good to be true, it probably is. That also applies to 0% down payment products.