in the price range of $225-260? trying to figure out a weekly savings for this....
angnick
Posted:
Member since
Re: nwr---how much is a good downpayment for a co/op?
with most co-ops, u are mandated to put down 20%.
sugarkube4
Posted:
Member since
Re: nwr---how much is a good downpayment for a co/op?
you have to see what the board requires.. most times it about 20%
sr081906
Posted:
Member since
Re: nwr---how much is a good downpayment for a co/op?
You mean average down payment or to avoid PMI.
I think 'Good' is 20 to 30%
PrincessConsuela
Posted:
Member since
Re: nwr---how much is a good downpayment for a co/op?
usually it is 20% down. however i depends on the managment company. my building we only put 10% down.
prinses777
Posted:
Member since
Re: nwr---how much is a good downpayment for a co/op?
Usually it depends on the SELLER for the down payment, I only did 5% down, and had the closing cost put into my mortage then I had a lot of money to renovate my place I/o putting it all down up front.
angnick
Posted:
Member since
Re: nwr---how much is a good downpayment for a co/op?
Posted by sr081906
You mean average down payment or to avoid PMI.
I think 'Good' is 20 to 30%
in the case of co-ops, it has nothing to do with avoiding pmi.. it is required by the boards..
ali120206
Posted:
Member since
Re: nwr---how much is a good downpayment for a co/op?
Even if the co-op only mandates 5 or 10%, it's good to put down 20% to avoid PMI.
In a lot of cases, if you have less than 20%, you can take out a home equity loan to make your down payment 20% to avoid PMI.
sr081906
Posted:
Member since
Re: nwr---how much is a good downpayment for a co/op?
Posted by angnick
Posted by sr081906
You mean average down payment or to avoid PMI.
I think 'Good' is 20 to 30%
in the case of co-ops, it has nothing to do with avoiding pmi.. it is required by the boards..
I was not sure if she meant the loan itself or the board request. So I throw both of them in my answer.
