Observing the comments on another topic, I saw that a greater number of people than I would have thought were contributing less than 20%. I am just wondering if 20% is no longer typical. Only those who choose a property in 2023 or 2024 are eligible for this.
I am not sure if I am familiar with property rates in other states, but in New York we usually have a standard apartment/home downpayment rate of 20%
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I had a little over 10% down saved and a credit score of only about 665 when I bought my first home. It was a FHA loan and the loan officer told me just to put down 5% and use the rest for some of the maintenance items that were needed after I moved in.
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Did 20%, but used equity from the previous home. It is not worthwhile to do more when you have a 3% loan; instead, keep any funds above 20%.
Did 20% to get the greatest offer with no PMI. Also, for competitive residences, greater down payment loans appear more appealing.