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Reply to "how the hades did you save a six figure deposit?!"
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[quote=Anonymous]I was 26 and DH was 31 when we bought our house ten years ago. put down 61K, which was about 11% of the purchase price. This was back in the day when you did a piggyback loan to avoid PMI--at a pretty high rate. Refinanced the rate down several times--now it's 3.75%, but never any cash out. Have about 150K worth of equity now. Sometimes I consider moving--it's a "starter" house--but I'd rather not have so much money tied up in real estate, having lived through the housing crash. About 45K of the downpayment came from DH, who was only making about 65K a year as a judicial clerk. He saved and lived in crappy apartments and also got about $25K as a gift from a land deal his father did. I saved up the rest from my biglaw salary. If I wanted a bigger, more expensive house, I'm still not sure I'd put 20% down, assuming I could finance it at a good rate regardless. Just not wanting to have that much cash tied up in a house. [/quote]
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