smdion
smdion t1_iyduhgg wrote
Reply to comment by nolesrule in Am I/we crazy? In need of a reality check by [deleted]
Agreed again, partially. You need to make sure your monthly mortgage is still within reality. You can have a smaller down-payment and still a healthy ratio of monthly outflow for the house.
smdion t1_iydt8un wrote
Reply to comment by nolesrule in Am I/we crazy? In need of a reality check by [deleted]
Yea agreed. Point is even the more conservative "always do 20%" are backing down to 5-10%. 20% is stopping a lot of people from being able to own a house.
smdion t1_iydsb9l wrote
Reply to comment by nolesrule in Am I/we crazy? In need of a reality check by [deleted]
It seems 20% is falling out of fashion for first time home buyers. Even Ramsey is saying 5-10% is OK now.
Source:https://www.ramseysolutions.com/real-estate/how-much-money-do-i-need-to-buy-a-house
smdion t1_iydv5ev wrote
Reply to comment by nolesrule in Am I/we crazy? In need of a reality check by [deleted]
Yep. Have to be disciplined and not just go "bank says I can get this big of a home" and buy that big of a home.