(Closed) Spin-Off: What percent did you put down on your house?

posted 8 years ago in Home
Post # 32
378 posts
Helper bee
  • Wedding: June 2008

Ours was a little over 20%, which amounted to almost $50,000. This was about 3.5 years ago.

@MrsDibs: We were very lucky because a great majority of that money came from savings that my in-laws had for my husband’s college fund. By the time he got to college, they didn’t need the savings because they could pay his tuition easily out of pocket.

Post # 33
604 posts
Busy bee
  • Wedding: December 2011

Call us crazy, we did an FHA loan and were able to put 5% down to lower our monthly payment. But then again we live in the Philadelphia area and houses are sooo expensive.

Post # 34
609 posts
Busy bee
  • Wedding: January 2009

we only had to do $5,000 down. so i’m not even sure what percentage that actually is.

Post # 35
1560 posts
Bumble bee
  • Wedding: January 2011

We put down about 40% on our home. We were very lucky that we were able to do so, and that’s the reason Darling Husband has been able to go back to school and we can live off of my piddly salary 🙂

Post # 36
3068 posts
Sugar bee
  • Wedding: May 2011

Thanks for starting this thread, lots of great info!

Post # 37
70 posts
Worker bee
  • Wedding: September 2012

Fiance and I saved money because we both lived at home for a year with our parents while working full time jobs. We didn’t get engaged til this summer (5 days before closing), so it wasn’t too weird. We are both lucky to live near eachother and to be able to find jobs near where we live, right upon graduation.


It took us a year to save up the money (though we probably could have bought in Dec/Jan instead of July, with the same amount down, but we wanted some extra so we could buy furniture and fix up the place).

Post # 38
1934 posts
Buzzing bee
  • Wedding: August 2012

I think it definitely depends on your area what’s best to do.

I put 27% down on my home (about 80k down)

Post # 39
11324 posts
Sugar Beekeeper
  • Wedding: February 2011

Of our own money? almost nothing actually. We bought during the obama tax deal so that gave us 8k to put down which was about 4% and all we needed for an FHA loan. We could’ve put down more money but we needed to furnish most of the house, pay for a wedding, and keep an emergency fund. If we thought we could’ve done 20% we would’ve done it, but it didn’t seem worth it to us to get to 15% then be totally cash poor with no furniture, no wedding money, and no savings. 

And I know there are those that say if you can’t afford 20% you can’t afford a house… but I think every situation is unique. We are both newish in our careers (I was 1 year out of school, he was 3 years out of school) when we bought which is why we didn’t have much saved, but we both have good salaries and steady jobs that promise lots of upward growth income-wise. The mortgage amount putting just 4% down was well within our monthly budget, and it seemed smart to buy and get 8k free from the government basically. And the reason we bought a bigger house than we need (4 bed, 2.5 bath, 2500 sq feet; we have no kids) is because we think that it is a waste to have a starter home then have to sell and get another one when you have kids. We picked a house and neighborhood we could easily stay in for 10+ years. 

Post # 41
3618 posts
Sugar bee
  • Wedding: November 2011

@MM423: My friend bought a starter home about 7 years ago when she first got married. Her son is 3 now and they’ve outgrown their 1200 sq foot 3 bedroom home. They just bought a bigger house, but lost about 1/3 of the value on their starter home and had to take it as a loss. This is something we wanted to avoid so we looked at homes we could grow into rather than out of.

Post # 42
1048 posts
Bumble bee
  • Wedding: June 2011

We are currently saving to buy next spring and plan on having 10% to put down on a $300,000-$350,000 home, maybe even more.  Unfortunately we are outside of Balitmore, a very high cost of living area.  Our duaghter is going to middle school next year and while our area and elem school is great, the middle and high is not so we want to move before then.  Otherwise we would probably stay put and save for another year. 

Post # 44
1089 posts
Bumble bee
  • Wedding: January 2013

We put the 20% down. On both our first and second home.

Post # 45
1450 posts
Bumble bee

10% on my home, but I did it on my own (no spouse help) 3 years ago.  I paid $139,000 for my 3 bed 2 bath house so around $13,000.  Thank goodness I live in Michigan I can’t believe what some of your pay for a house YIKES!

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