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Old 07-25-2008, 10:51 AM   #1
Default What % of a down payment did you make on your home?  
melsb
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Ours was not much. I think about 6% but maybe I'm tossing closing costs in there as well. Not as much as they traditionally required -- perhaps it was loans like these that have caused so many problems in todays market? But let me note that we are NOT behind in our house payment and never have been behind in our house payment!

How much do you think that you should pay?

I think 10% is reasonable -- though, again, we didn't pay that much and I was pretty thankful for it at the time.
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Old 07-25-2008, 11:06 AM   #2
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We paid about 20% on our current house.
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Old 07-25-2008, 11:14 AM   #3
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We did around 25%
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Old 07-25-2008, 11:43 AM   #4
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I thought we had a thread about this recently. We took only a small mortgage on our house and reserved a little aside for remodelling.
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Old 07-25-2008, 11:46 AM   #5
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Ours was our first home, so we put down 5%. However, we allowed for closing costs and other things, so we closed with about $15K at the ready. I'm glad we planned on the extra, because we needed it, having a brand new home.
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Old 07-25-2008, 11:49 AM   #6
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Ours was 20%. It all came from the sale of our previous home. I don't think we put much at all down on that one.
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Old 07-25-2008, 12:01 PM   #7
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Ours was our first home as well. Evidently there is a big difference in the amounts you pay - which make sense (though I hadn't thought about it) since going into your 2nd + home you usually have the sale from the previous home as well.

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Old 07-25-2008, 01:00 PM   #8
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We're still living in our first home and we put 20% on the down payment. We sold nothing to get the down payment -- it was what we saved. We put so much down because we wanted to avoid PMI.
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Old 07-25-2008, 02:15 PM   #9
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10% down and we were first time home buyers at the time so we got another 10% paid by the state for moving to a small town!! so it equaled 20% between our money and the states.
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Old 07-25-2008, 02:31 PM   #10
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Our first home we put 20% down. Our 2nd home we put 66% down (the entire sale price of our first home, which was paid off, plus some from savings). We don't have a big income so we need big downpayment/small mortgage.
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