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

**homesteadmamma** · 01-18-2006, 02:57 PM

We paid cash for ours this time. Our last home, we only had to put down $500.00. It was a private sale.

**Darlene** · 01-18-2006, 03:02 PM

Our first we had $20K to put down. Sold at a good price & put that money towards this one and had the asking price 1/2 paid off.

**Kimberlina** · 01-18-2006, 03:11 PM

I think we put down about $20,000, which was a little under 20%.

**Katybird** · 01-18-2006, 03:21 PM

We only had to put up a small down with our house.

**mom2matty** · 01-18-2006, 04:33 PM

Actually we only put down $1K

**FreesiaE** · 01-18-2006, 04:38 PM

The standard 20% for both house #1 and house #2.

**Emerald_Mommy** · 01-19-2006, 10:53 AM

We only put down a small downpayment. We are still paying PMI. I think we should have waited until we had 20% but oh well...

**staceyy** · 01-19-2006, 11:01 AM

$20,000 for this house.

**waterlover** · 01-19-2006, 11:46 AM

My first house was purchased with a California GI loan(can't remember the proper name of it), so we didn't need much down if anything at all.

2nd, 3rd and 5th house I had 20% down payment.

4th house I had the 20% available but didn't use and kicked myself later on.

I move around alot

**rebecca** · 01-19-2006, 05:24 PM

Paid 20% down on my house so I wouldn't have a PMI

**Cele** · 01-19-2006, 07:53 PM

1st house: 5%
2nd house: 20%

I wouldn't do less than 20% again. It's amazing how much it lowers the payment.

guest7 · 01-19-2006, 08:17 PM

Originally posted by Emerald_Mommy
We only put down a small downpayment. We are still paying PMI. I think we should have waited until we had 20% but oh well...

If the equity in your home exceeds 20% you can ask the mortage company to drop the PMI.

For me... house #1 put $5K down (about 5%) good thing it was so low.. because husb1 gambled the house away! LOL

dh2 and final man in my life is much smarter... bought the house below market put 30% down.. no PMI... owe 110K- have $400K+ in equity and if rates drop again.. we'll refinance to pay off sooner than the current 10 years. Plus paying an extra mortg payment q year. I love my husband.

**SHOPGIRL** · 01-19-2006, 09:57 PM

Nope! Not at all. I was in a desperate situation and I needed to move ASAP. I had enough money for the closing costs and a few other expenses. I think that was around $5K.

So, to avoid PMI, I used creative financing and took out two mortgages. It was so worth it. If I would have realized how easy it was to get money for a house, I would have done it years ago.

**owiebrain** · 01-20-2006, 11:02 AM

First house, about 20-25%, can't remember exactly.

Current house, nothing down, private contract.

**Juto** · 01-20-2006, 02:41 PM

We only put down a small downpayment. We are still paying PMI. I think we should have waited until we had 20% but oh well...

EmeraldMommy,

Did you know if you get your house appraised again and the value has gone up enough to equal your 20% down, then you don't have to pay PMI! That is what happened with us and our 1st house. We only had $7,000 to put down and 1 year after living there we had an appraiser come out and we told him why we were having it appraised, and he appraised it at the value needed to get rid of our PMI.