Ideal down payment on a 600k house?
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Anonymous
| Obviously the more, the better. But what should be the point when you say "we've saved enough, let's buy a house."? |
Anonymous
|
It's not obvious that the more the better -- not with today's interest rates.
But I'd strive for $120,000 down. |
Anonymous
| $200.000 and savings for repairs and updates |
Anonymous
| $200.000 and savings for repairs and updates |
Anonymous
| I'd do the minimal to avoid PMI. Rates are low-take advantage. |
Anonymous
| Um, the less the better. Put the rest into a stock index fund and make 10%-5% = 5% or so instead of spending 5%. |
Anonymous
| 0 |
Anonymous
|
We put about 40% down for a similar priced house. Part of it was to diversify our investments, since we were exclusively in risky tech stocks. Another part was that we didn't like how mortgage payments frontload the interest, not the capital, and a lot can happen during the length of your mortgage. We opted for a 15 year mortgage. |
Anonymous
| I'd go with $120k. |
Anonymous
|
120k. NO way would I buy that house with less than 80k down. That's just risky.
FWIW we bought a house in the 600s. The bills the first year were insane. WAYYYY more than we ever intended. Everything died: the AC, the grass, cars, moving expenses, roof leak, a rotten stair. You name it and the house was built in the 90s and was in good shape. |
Anonymous
| $590k. A $10k mortgage is much easier than a $600k mortgage. |
Anonymous
| If you can get a good rate and avoid PMI, buy it with whatever you have. Don't keep waiting just to save up 20%...prices are likely to only go up. |
Anonymous
You must not live in the DC area, no house built in the 90s is 600k |
Anonymous
thanks 
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Anonymous
| ^^ that is, so long as you're very comfortable making the mortgage payments every month, not stretching. |