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Forum » Homeowners: How much % was your down payment?
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Thread: Homeowners: How much % was your down payment?

post 1658448443 03-23-2022, 03:16 PM
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Homeowners: How much % was your down payment?

Title.

Curious for those who are home owners, at the time, how much did you have down versus the house cost? How much were the added fees, inspection, etc.?
post 1658448593 03-23-2022, 03:19 PM
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10% deposit. Could have put more down, but it would have had very little effect on the interest rate/monthly repayments, so opted to put the rest of the money in the s&p 500
post 1658448763 03-23-2022, 03:21 PM
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I planned for 20% but it ultimately came in at 24% because a made the builder add some things and didnt want a bigger loan
post 1658448793 03-23-2022, 03:22 PM
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25%. Was not needed to be as much but i wanted lower monthly payments.
post 1658448943 03-23-2022, 03:25 PM
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0% VA loan @ 2.75% (free money), seller paid all my closing costs.
post 1658449393 03-23-2022, 03:31 PM
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I paid the minimum because with my interest rate and price my house was when I bought it, the monthly payment of the principle is a joke. I think my house payment is like $950, if I would have spent time and lots of effort putting a more substantial down payment down maybe I would be paying $850, WOW crazy difference every month. Instead I opted to buy ASAP and not wait around.
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post 1658449493 03-23-2022, 03:32 PM
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Originally Posted By nattyandweak⏩
25%. Was not needed to be as much but i wanted lower monthly payments.
This. I didn't wanna fuk off the one time in my life I had some real money in my account.
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post 1658449523 03-23-2022, 03:33 PM
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0% thanks to VA home loan
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post 1658449673 03-23-2022, 03:35 PM
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100k on a 365k house.
Paid it off after GME lol
Only bills I got are taxes, gas electric cable and phone, car insurance. Feels good mane
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post 1658449963 03-23-2022, 03:40 PM
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I can't remember exactly but it was less than 20%. Probably 15% or so.
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post 1658450463 03-23-2022, 03:50 PM
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Mine was 27% for lower monthly payments, you generally get a better rate every 5% bracket you go up.
post 1658450933 03-23-2022, 03:57 PM
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I put 20% down on the $440,000 purchase, or $88,000.
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post 1658451023 03-23-2022, 03:58 PM
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I put 20% down to avoid PMI…plus I didn’t have any established credit…never bought anything I couldn’t pay for with cash. So the down payment helped secure a loan. Then it was about $3-4 thousand in closing costs, title insurance, other fees. I had a friend do the inspection who was a home builder (was a mistake…he missed a few expensive things). House needed remodeling but I could do most of it so I’ve built a lot of equity. Probably one of, if not, the most expensive houses on the block now.
post 1658451323 03-23-2022, 04:04 PM
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my rentals were 25% (which is a requirement), and the home I bought last year for primary was 20%.

Inspections, I don't recall, but seems like everything was under $1k, and all other fees I had rolled into the loans.
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post 1658485783 03-24-2022, 08:53 AM
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ask your mom, she made my down payment
post 1658485823 03-24-2022, 08:54 AM
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Whatever I had to put down to avoid the capital gains taxes from the sale of my old house. Don't remember tbh.
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post 1658485853 03-24-2022, 08:55 AM
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post 1658485903 03-24-2022, 08:55 AM
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5%

Built new seven years ago so there weren't really any extra fees but did pay another 5% GST I think
post 1658486053 03-24-2022, 08:58 AM
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first primary house = 20%
first investment property = 5%
second primary house = 5%

Roughly $2000 for lawyer fees.
Always did my own inspection.
Land Transfer Tax = 1.5-2% of the purchase value of each house.
post 1658486083 03-24-2022, 08:59 AM
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40k on 300k house

I had the 20%, but pmi is only like $40/month. Figured that was worth it to hold onto the other 20k for rainy day
post 1658486213 03-24-2022, 09:03 AM
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Originally Posted By demfeelsbro⏩
10% deposit. Could have put more down, but it would have had very little effect on the interest rate/monthly repayments, so opted to put the rest of the money in the s&p 500
Depending on state and special scenarios (VA loans etc) i guess but anything less than 10% and dont you have to pay PMI?
post 1658486413 03-24-2022, 09:05 AM
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20% to avoid pmi other wise you need to do like an 80 10 10
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post 1658486423 03-24-2022, 09:06 AM
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3% but Ideally 20% so you don't have to pay that PMI BS. I have that off my mortgage now.

With interest rates what they were, 2.75% or lower, why put more than you really need too. Its basically free money.
post 1658486643 03-24-2022, 09:11 AM
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I did 3% which was like $13k at the time, loan was 5% int w/PMI. Then real estate immediately skyrocketed and I refinanced and got rid of PMI and got rate down to 2.25%.

Best leveraged move I've ever made. $13k downpayment has since turned into at least $320,000 equity in 5 years.
Always Neg Back Crew.
post 1658486803 03-24-2022, 09:14 AM
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Mine was 20%.
post 1658487253 03-24-2022, 09:22 AM
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Originally Posted By Lefticle⏩
I did 3% which was like $13k at the time, loan was 5% int w/PMI. Then real estate immediately skyrocketed and I refinanced and got rid of PMI and got rate down to 2.25%.

Best leveraged move I've ever made. $13k downpayment has since turned into at least $320,000 equity in 5 years.
Smart move use the equity to remove PMI and lower the rate.

GJDM
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post 1658487363 03-24-2022, 09:23 AM
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zero.

I own the land I built it on. The land had to be tied up in the deed anyway, so that equity counted as my downpayment.
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post 1658487443 03-24-2022, 09:24 AM
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About 5% on a $185,000 house 3 years ago, around $10,000 overall

House has close to doubled in value since then, so property taxes are ramming me in the ass but such is life

Still better than being a rentcel
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post 1658487503 03-24-2022, 09:25 AM
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20% to avoid PMI
post 1658487663 03-24-2022, 09:27 AM
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Paid the minimum 5% on our first place back in the day. Next place was different but we had some equity to roll in.
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