How much money did you put down on your home?

posted 3 months ago in The Lounge
Post # 61
Member
249 posts
Helper bee

I was single but with amazing credit when I bought my first home. I put zero down on a conventional loan. No PMI or any of that. (Regions Mortgage). I have since sold that home.

Fiancee put zero down on his with VA loan. 

Next house… whatever we can sell our current home for. Hoping to pay it off first. So HOPING probably $150-200k down on the next home. Assuming our next home will be ~$300k. So about 50%+ down on next home. Homes aren’t as expensive here as they are elsewhere. 

Post # 62
Member
9212 posts
Buzzing Beekeeper
  • Wedding: August 2012

We bought during the recession so I think it was only 5 or 8%.

We’re hoping to move this summer in which case we’ll probably put the majority of our current home price into that house.

Post # 63
Member
1050 posts
Bumble bee

We’re in the UK so no PMI (no idea what that is), we’re putting down 5% on a 165k property, no stamp duty as first time buyers. It’s a doer upper so we’ve spent less than what we budgeted, which was up to 190k. We live in a fairly low cost area (Birmingham) so we can get a lot more for our money than down south. We saved just under a year for the deposit, we could save longer for a larger deposit but see it as money down the drain as we’re renting and the mortgage is only £50 more a month. 

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