Hello Lady of Pearl,
I guess that I thought that it was not really worth it to save up that much (20%) only to fork over, especially b/c depending on the cost of the house, it may not make that much of a difference in the mortgage payment and you could have done so much with that liquid cash in terms of investing it, etc., especially if you don't intend to ever pay the mortgage off. Have you heard this?
What do you think of the 80-20 loans where you put no money down?
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Quote:
Originally posted by Lady of Pearl
It is also best to have at least a twenty percent or more downpayment to reduce that mortgage payment.
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