Did you have a nice down payment when you purchased your home

**missymomof3** · 01-25-2006, 08:38 AM

How do you get a private contract? My fiance and I are wanting to buy a house probably next year and I was wondering what I would need to do to be able to buy the most house for our money.

**FrugalMomof3** · 01-25-2006, 09:11 AM

Well we put down I think it was a little over $5K but it was so awesome to know that when I had that great job that we could even save that much with paying child support. One thing is we
didn't have many credit cards back then and I cleaned up my credit really good ...

Thank goodness we got a VA loan since the house was forclosed, nothing was wrong with the house either and it's a pretty nice size.

**midwestgal** · 02-21-2006, 02:40 PM

We bought our 1st home with $300 and a VA loan. We now live in our 4th home and have a lot of equity in it. We'll pay cash for our 5th and (hopefully!) final home when we sell and move.

**chatterweb** · 02-25-2006, 07:40 PM

Home #1: We got grants under first time buyer's program of 12K

Home #2: Sold Home #1 for 380K (bought for 187K) Put 100K down on home #2. Put extra in the bank.

Home #3: Bought with leftover $$ from Home #1 sale. Put 22K down. Waiting for it to be rented out!

**madhen** · 02-25-2006, 09:37 PM

My first house, I had $3,000 to put down. When I sold it and moved, I had $20,000 to put down on the second home. When I sold *it* and moved, I had $60,000 to put down on what is hopefully my last house!

**frugalaussie** · 02-25-2006, 09:46 PM

Managed to put down 21% for the house, which of course meant no mortgage insurance.

frugal aussie

**canadian gardener** · 02-25-2006, 10:10 PM

nope, we sold the last one at a terrible loss due to a downturn in the local economy, and had to buy here where prices remained stable.

We cashed in all our RRSP's which hurt, just to scrape enough for a down payment, and it was touch and go.

We are mtg'd to the ying yangs --till George is 72 or some such thing but we have a house and it's much much much cheaper than rent.

it has gone up in value, but so has everything else so it's all relative.

**LadybugDreams** · 03-05-2006, 02:34 PM

We had $10,000 to put down on the house, unfortunately we also have a second mortgage, but that will be paid off in the beginning of 2008 or 10 years early.

**rnmama** · 03-18-2006, 07:26 AM

5% plus legal fees, CMHC fees, Ontario New Home Warranty Program. We did receive a GST rebate of approx $5000.00 because it was our first home and it was a new construction home.
Oh, we also had to pay a $500.00 security deposit to the builder. Everyone who bought a house by this builder had to pay it. We are supposed to get it back when the construction is complete. Some people in my neighbourhood have been waiting for over 5 years!! Looks like it should be done soon. ( I actually forgot about that money until i responded to this thread!!)