Home Owners

[Elvis P.]

What % did you put down when you bought??? Any helpful hints on the home buying process?

 

[talonracer]

I went VA and put nothing down, I used my down payment to pay off credit card debt. I came out paying alot less a month than if i would have put the money into a downpayment. If you aren't a veteran you could try FHA if you only have like 5% down money.

 

[HamHock]

I did fix-ups to build equity and eventually put down a 6 digit down payment on a home I built. Shoot for at least 20% if a VA loan is not an option for you.

 

[luv2workout]

We put 20% down - so we wouldnt have to pay an additional 50.00 a month for mortgage insurance
I use to sell real estate...i may be able to help you, although its been a few years....what kind of ?'s do you have???

 

[Pump101]

With interest rates low, go with a fixed 30 year. Try and put 5% down, and then take a 2nd out for 15%. You will pay a little higher rate for the 2nd, but you do not have to pay the mortgage insurance.

Make payments every 2 weeks. Don't make monthly payments, rather make payments every 14 days and you will knock off a few years on the loan, which will save you money over the long run.

Try to put as little down as possible becasue rates are so low. Property will almost always go up, so don't worry about being up-side down if you decide to sell in a few years.

 

[Elvis P.]

Thanks for all your help. I got all my questions answered.

Thanks,

Elvis