I am clueless. What do people usually put down as a deposit on a house?
TIA
MrsSoto
Posted:
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Re: can you share with me
hey! im in real estate actually. it used to always be 20%. with the economy and people just cant do that, its less many times like 5-10%, sometimes even lower. but what it comes down to is if the seller with accept your offer with your proposed dp and then if the bank will actually give you a mortgage with less than 20%. also, when you put down less than 20%, you have to pay pmi (private mortgage insurance) which adds up but sometimes it cant be helped.
