Reply to 43% of home purchases are all cash

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][b]Only first time homebuyers put down just 20[/b]%!

[b]On our second home we put down 60%[/b]. It's easy. Live your life on one income and save the other's income. [/quote]

Really? Why did you do that? I am asking because we are in the process of looking for a house and while we the money to put down more or even pay for it all depending on the price of the house of course, our financial advisor told us to put only 20%.  I didn't really asked why because we just began talking and she told that to my husband.

I would much rather have a smaller to non existent mortgage though… Just wondering why you decided to put 60% down.[/quote]

Because they aren't financially savvy enough to realize they would get a better return on their money elsewhere.  Your financial advisor is right, if you've locked in at a low rate and you are taking the mortgage deduction, best to keep your investment money diversified in investments that yield better (and more predictable) returns than housing.[/quote]

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