the_ben•2mo agoMost Upvoted

I used to think a 20% down payment was the only way to buy a house

For years I saved every extra dollar, watching prices in my city climb way faster than my savings. Then a loan officer told me about an FHA loan that only needed 3.5% down, and I closed on a condo last month. How many other people put off buying because they believed the old 20% rule?

3 comments

3 Comments

diana1553d ago

@patp79 I put down 5% on my first place and refied two years later, it worked out fine.

dakota_taylor392mo ago

My friend did that for like a decade, honestly.

patp792mo agoMost Upvoted

Wow, @dakota_taylor39, but what did they get out of it?