Super Ramon
Banned
How much did you put down for the down payment 
?
?
All my homeowners get in here?
- Thread starter Super Ramon
- Start date
MadameMoreaux
Pro
Why you wanna know? This information isn’t helpful to potential homebuyers because everyone’s situation is very different. Aim for 20% down so that you can avoid mortgage insurance. There are some special programs that allow you to put as little as 0% down. If you or your spouse are a health professional (MD/DDS/DVM) you can get 0% down with no mortgage insurance. FHA/VA loans I believe is 3.5% down, but still gotta pay MI.
Heafcliffe
Hope there's puddin' in the clink...
We put down 3% w/ no PMI. Moved in with equity.
Like my man said above, the repairs don't ever fuccking stop. Last week, the shower
. This week, the washing machine
.
Like my man said above, the repairs don't ever fuccking stop. Last week, the shower
. This week, the washing machine.
Mordith
H.E.N.R.Y.
I have a VA loan so 0% 
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20%
I rent ($800 per month for 3 bedroom rent stabilized Apartment in a decent neighborhood in Brooklyn - rooms aren't very big though), I'm thinking of buying a house.
How do you guys deal with the mental stress of the repairs never stopping?
There are conventional loans out there in which you can put down 5% and avoid paying PMI. But you must have at least a 720 credit score and your Debt to Income ratio should be well below the 36% threshold. This how I obtained my first property.
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OfTheCross
Veteran
5%How much did you put down for the down payment
20%
Truth! And if it doens't need to be prepared, you probably want to change it anyway. This is why I say put down enough where the mortgage payment is no more than 25% of your net pay. If you can do that with a 15 year or 20 year mortgage, even better. Keep as much of your money as possible and pile on to it for emergencies and overall changes you want to make. You will need EVERY nickel.
Just be prepared. While you're looking for a house, also find a network of handy men, plumbers, electricians, contractors, etc. Have some names handy you can call instead of trying to search for someone when the problem arises. Start a home repair emergency fund and add a little to it each month. Youtube or DIY vidoes in general are really helpful too. You'll find there are a lot of little projects you can tackle yourself and it's easier than you realize. A couple of friends, food and the right materials are all you need.
We put down 3% w/ no PMI. Moved in with equity.
Like my man said above, the repairs don't ever fuccking stop. Last week, the shower
Man who you telling. Sometimes you wanna thug it out
Repped
I'm at 752 FICO, my debt ratio is at 18% and I have about 65k in cash...problem is I live in NYC and I wanna stay close to work. Not sure if I can afford NYC property though, unless I go to an area with higher crime, which I don't want to do cuz I have kids.