How might to put down for a 1.2 mil house?

[Anonymous]

I just bought a house around this price and put down enough to get just under the jumbo loan rate of 822,000 something. So a little more than 20%. The difference in rate between conforming and jumbo was around 1/2% I believe.

[Anonymous]

Put down the minimum possible without pmi, it usually is some formula of conforming rules and 20%. Down above it

[Anonymous]

If you can't afford to put 20% down, you can't afford the house, especially at this price point. I always find it amusing when I see people shopping $1m+ homes with presumably high incomes willing to shred their hard earned money on PMI and likely a higher mortgage interest rate.

[Anonymous]

Anonymous wrote:I just bought a house around this price and put down enough to get just under the jumbo loan rate of 822,000 something. So a little more than 20%. The difference in rate between conforming and jumbo was around 1/2% I believe.

Jumbo loan starts at $970k in this area, not $822k...?

[Anonymous]

20% is minimum unless you are VA loan with favorable rates.