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Old 02-09-2009, 10:07 AM
 
11 posts, read 54,622 times
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What would you do in current economy if you have funds for more then 20% down? Will you put more or stop at 20%?

As an example, you have a home $400K , you can put down anything between $80K (=20%) and $120K (30%).
With 20% down you'll get:
1. Better rate (???)
2. No PMI
Couple of years ego people would say put all you have in downpayment since there was no other "safe" investment that would grow that fast. Well it appeared to be not that safe, but that's another story
So what do you think is the best to do today?

Last edited by EastCoast_1; 02-09-2009 at 10:50 AM..
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Old 02-09-2009, 01:18 PM
 
135 posts, read 635,801 times
Reputation: 45
If i have 20% downpayment -

I will do this - Get the best rate with little closing costs - I dont care about PMI here --
to avoid pmi - pay it off in next month with your money

But right now at this economy, since i am in Oil and gas industries - I wont pay the 20% down full - I will leave it for a while - but remember that it will cost you too - $200 per month on PMI..
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