POLL: What was your down payment

riniko Posted: Apr 29, 2005 08:26 PM

POLL: What was your down payment

Just wanted to get an idea of what kind of down payments people are putting down on their homes. Not sure how people can put 20% down on a half a million home!

TracyInQueens Posted: Apr 29, 2005 08:27 PM

Re: POLL: What was your down payment

We ended up putting down what amounted to 12%. We did a HELOC for the remaining 8% to avoid PMI.

riniko Posted: Apr 29, 2005 08:28 PM

Re: POLL: What was your down payment

I am ignorant what is HELOC?

TracyInQueens Posted: Apr 29, 2005 08:34 PM

Re: POLL: What was your down payment

Home Equity Line of Credit. It's a second, smaller loan.

ETA- Sorry! When you spend too much time on the Home board you start to throw around all these acronyms.

Jenny5150 Posted: Apr 29, 2005 09:27 PM

Re: POLL: What was your down payment

We put 10% down (36k to 50k) and ended up refinancing about a year later at a lower rate. We were also able to drop the PMI.

Hazeleyes33 Posted: Apr 29, 2005 09:43 PM

Re: POLL: What was your down payment

We put down about 37%.

september2004 Posted: Apr 29, 2005 09:49 PM

Re: POLL: What was your down payment

we are in the process of an 80-10-10

aiming to crush 10% in 2 years to get to the 20.

'80-10-10' has supposedly become the new '20'

Snowboardgirl Posted: Apr 29, 2005 10:18 PM

Re: POLL: What was your down payment

we putdown 20%. it came to about 115,000.

september2004 Posted: Apr 29, 2005 10:21 PM

Re: POLL: What was your down payment

Posted by Snowboardgirl

we putdown 20%. it came to about 115,000.

i'm jealous...

MCDO15 Posted: Apr 29, 2005 10:24 PM

Re: POLL: What was your down payment

Posted by september2004

Posted by Snowboardgirl

we putdown 20%. it came to about 115,000.

i'm jealous...

yup...

peabody Posted: Apr 29, 2005 11:50 PM

Re: POLL: What was your down payment

Posted by MCDO15

Posted by september2004

Posted by Snowboardgirl

we putdown 20%. it came to about 115,000.

i'm jealous...

yup...

Count me in as jealous too.

Preshy7 Posted: Apr 30, 2005 08:33 AM

Re: POLL: What was your down payment

we put 27k down = 5%
we used 30k for renovations

missmmpr Posted: Apr 30, 2005 09:30 AM

Re: POLL: What was your down payment

we put 10% and have a HELOC as well

lisau18 Posted: Apr 30, 2005 11:42 AM

Re: POLL: What was your down payment

We put down 50,000 and also got a HELCO

skew Posted: Apr 30, 2005 12:47 PM

Re: POLL: What was your down payment

we put 10% at contract and are putting 20% @ closing = WELL over 81k.

eta: since we opted for a interest only loan, we upped the DP another 10% to build additional equity.

btrflygrl Posted: Apr 30, 2005 01:06 PM

Re: POLL: What was your down payment

I think we are putting down 6%

julz33 Posted: Apr 30, 2005 01:08 PM

Re: POLL: What was your down payment

chmlengr Posted: Apr 30, 2005 03:10 PM

Re: POLL: What was your down payment

We put down over $100,000 when we bought in 2000. But we had in interest rate of 8.25% We refi'd in 2002 and now have an 5.25% interest rate.

Snowboardgirl Posted: Apr 30, 2005 03:16 PM

Re: POLL: What was your down payment

Posted by peabody

Posted by MCDO15

Posted by september2004

Posted by Snowboardgirl

we putdown 20%. it came to about 115,000.

i'm jealous...

yup...

Count me in as jealous too.

We both lived with our parents separately for ten years to pay for the house and the wedding! We saved as much as possible. I am finally out of my parents house at 31! That's how we did it. It is definitly hard now though.