Anonymous
Post 02/21/2022 23:17     Subject: How might to put down for a 1.2 mil house?
With mortgage rates so low, put the minimum down and let the rest of your money work for you.
Anonymous
Post 02/21/2022 22:18     Subject: How might to put down for a 1.2 mil house?
Anonymous wrote:
Anonymous wrote:20% is standard. 200k is 16.7%. You might be able to do it but not sure if the bank would charge you more


20% allows you to avoid PMI and get better interest rates for sure, but isn’t “standard” the way most would use the word. The average down payment percentage is much lower.


In both NW DC and in Arlington at that price point, it is standard. You can look up the data from the CFPB's mortgage records. The median down for a home purchase around 1-1.2M, conditionally on financing, is 20%. I didn't look up MoCo, but I'd assume the same.

Now, that may not be true at either difference price points or regions.
Anonymous
Post 02/21/2022 12:50     Subject: How might to put down for a 1.2 mil house?
Anonymous wrote:20% is standard. 200k is 16.7%. You might be able to do it but not sure if the bank would charge you more


20% allows you to avoid PMI and get better interest rates for sure, but isn’t “standard” the way most would use the word. The average down payment percentage is much lower.
Anonymous
Post 02/20/2022 14:35     Subject: How might to put down for a 1.2 mil house?
Anonymous wrote:We put 700k down for our 1.2 million house 8 years ago.


What you couldn’t afford to just pay cash? Working stiffs by any other name is just as stiff
Anonymous
Post 02/20/2022 07:48     Subject: How might to put down for a 1.2 mil house?
We put 700k down for our 1.2 million house 8 years ago.
Anonymous
Post 02/20/2022 00:10     Subject: How might to put down for a 1.2 mil house?
That’s somewhere between $5500-$6000/mo mortgage depending upon rate, insurance, and taxes. Can you comfortably handle that?
Anonymous
Post 02/20/2022 00:01     Subject: How might to put down for a 1.2 mil house?
We did 500 to keep it a conforming mortgage and a manageable monthly payment.
Anonymous
Post 02/19/2022 23:34     Subject: How might to put down for a 1.2 mil house?
Anonymous wrote:
Anonymous wrote:20% is standard. 200k is 16.7%. You might be able to do it but not sure if the bank would charge you more


Actually Caliber Home Loans does jumbo loans with less than 20% down


We put less than 20% with Caliber and did a conventional loan. Jumbo has more to do with the total loan amount I think.
Anonymous
Post 02/19/2022 20:01     Subject: How might to put down for a 1.2 mil house?
Anonymous wrote:750k is all you can write off on mortgage and around conforming loan limit. I say 500k down

Jumbo loans in the DC area start around $970k.
Anonymous
Post 02/19/2022 19:49     Subject: Re:How might to put down for a 1.2 mil house?
You can do 10% down if you want… there’s no difference from 20%.
Anonymous
Post 02/19/2022 18:34     Subject: How might to put down for a 1.2 mil house?
750k is all you can write off on mortgage and around conforming loan limit. I say 500k down
Anonymous
Post 02/19/2022 17:13     Subject: Re:How might to put down for a 1.2 mil house?
Agree 20% is standard. Are you already pre-approved for your mortgage? Chances are the interest rate will be higher if it's less than 20%

Anonymous
Post 02/19/2022 17:09     Subject: How might to put down for a 1.2 mil house?
Anonymous wrote:20% is standard. 200k is 16.7%. You might be able to do it but not sure if the bank would charge you more


Actually Caliber Home Loans does jumbo loans with less than 20% down
Anonymous
Post 02/19/2022 17:07     Subject: How might to put down for a 1.2 mil house?
20% is standard. 200k is 16.7%. You might be able to do it but not sure if the bank would charge you more
Anonymous
Post 02/19/2022 17:03     Subject: How might to put down for a 1.2 mil house?
Many 1.2 mil houses around here right now. What would be a good downpayment? We were thinking 200k. How much have others put down for a house in this range?