Home Owners: What was your down payment and what is your interest rate?

[Sad Bunny]

Put me on brehs

I am house shopping right now so give me the game

I am a first time home buyer.

I will probably buy a house between 230k and 300k.

I am looking at new construction.

Is it worth putting down more than 3.5%?

Should I stack and save up 20%?

 

[MoveForward]

FHA loan is your friend... Congrats

 

[⠀X ⠀]

Go get approved for a mortgage first. It all depends on your credit, but with an FHA loan you can get 3.5 percent down.If you can put 20% down, that's even better, as you won't have tp pay mortgage insurance.

 

[Germms]

$0 and 3.06%
I got a VA loan though

 

[CrimsonTider]

Put me on brehs.

I am house shopping right now so give me the game

First time home buyer should get a FHA loan. It should be 3.5% down

 

[Sad Bunny]

$0 and 3.06%
I got a VA loan though

Good shyt.

I wanted that USDA loan but I make too much.

 

[ultraflexed]

To avoid paying pmi you got to put down at least 20%

My first house I put down 6k, and another 6k for closing cost... house was 195k, interest rate 4.7%

My second house I put down 100k, no closing cost cause the house was brand new, paid 433k, interest rate 4.3%

 

[Human Torch]

4.1% rate on a jumbo loan, down payment was 7%

But my house was brand new and discounted by 50k when i bought it(original family built it and then pulled out the deal). So it was out of my original budget but i couldn’t pass on that opportunity. I do have PMI about $250/mo which i hate

But I just moved to Seattle so I’m renting it out at cost of my mortgage(3200) so when i move back I’ll be able to drop PMI and pay less than 3k for a 3600 sq ft house.

 

[Sad Bunny]

FHA loan is your friend... Congrats

Go get approved for a mortgage first. It all depends on your credit, but with an FHA loan you can get 3.5 percent down.If you can put 20% down, that's even better, as you won't have tp pay mortgage insurance.

First time home buyer should get a FHA loan. It should be 3.5% down

I rather put down more and get a conventional loan.

I don't want to pay PMI and I want a lower monthly payment. I prefer to base things off of one salary.

I guess it depends on how much house I buy.

I was looking at a townhome for $230 but I can spend 30 more and get a single family.

New construction too.

 

[DJ Paul's Arm]

Wait for the recession breh

 

[MrRDU]

First time home buyer or not? I need tips for selling my current, first home, and purchasing another

 

[CrimsonTider]

I rather put down more and get a conventional loan.

I don't want to pay PMI and I want a lower monthly payment. I prefer to base things off of one salary.

I guess it depends on how much house I buy.

I was looking at a townhome for $230 but I can spend 30 more and get a single family.

New construction too.

Depends on how much cash you wanna give up. I would opt towards keep my cash reserve. You can always pay more than your mortgage payment every month

Wait for the recession breh

Rates are already historically low

First time home buyer or not? I need tips for selling my current, first home, and purchasing another

Talk to an agent that has sold homes recently in your area, they should know the market and potential buyers

you can put an offer in on new home that’s contingent on you selling your 1st home

 

[Fat Fred Jones]

If you have patience, NACA is the way to go. They offer the lowest interest rates to everyone regardless of credit. It can take 3 - 6 months to get approved, but it's worth it. There are no closing costs. No minimum down payment and no PMI.

My rate is 2.87%

 

[Sad Bunny]

If you have patience, NACA is the way to go. They offer the lowest interest rates to everyone regardless of credit. It can take 3 - 6 months to get approved, but it's worth it. There are no closing costs. No minimum down payment and no PMI.

My rate is 2.87%

Good looks.

I will looking into this.

I have good credit ... about 790 ish.

Will that help me get a better deal?

 

[Amy Traphouse]

If you have patience, NACA is the way to go. They offer the lowest interest rates to everyone regardless of credit. It can take 3 - 6 months to get approved, but it's worth it. There are no closing costs. No minimum down payment and no PMI.

My rate is 2.87%

How does that work? I know you can sell without their permission and you have to volunteer time to them throughout the life of then loan. Are you co-owning with them or something?