What is the norm to put down in a house?

[Buckeye Fever]

20% ?

Downloaded an app on my phone of a realtor.

 

[Orbital-Fetus]

half.

 

[Two Stacks]

at least 20%, but the more, the better.

 

[twan83]

sometimes u dont have too put nothing down also

 

[Rawtid]

I think if you put down 20% you don't have to pay private mortgage insurance or something (let me get back to you to make sure).

Some loans only require 3% but I would never put nothing down. That's just me though but there are loan products that will allow it. If you're a first time buyer you can most likely get assistance for a down payment depending on what state you're in.

 

[↓R↑LYB]

Depends on the loan

FHA - 3.5%
Traditional - 20% (if you do less you'll have to pay PMI).
This is assuming the home is your primary residence of course.

 

[Buckeye Fever]

Whenever I cross that bridge, I will be a 1st time buyer

 

[ThumpDaddy]

I have never known the rules on that. But from what I understand the more you can put down the better. But I have heard of people putting down nothing to 50% down and everything in between.

 

[TRUEST]

bottom line is if u dont have at least 20% to put down, dont do it.

 

[Rawtid]

Also remember that putting down nothing on a house is not the same as having nothing to put down on a house. You always want to have some money for a down payment.

 

[Standing on business]

0% down

I feel bad for all those people who put 20% down and lost their homes several years ago

 

[Yogi]

At least 20%

 

[BlvdBrawler]

Whatever it takes to avoid PMI, which is why I would avoid an FHA loan at all costs.

PMI is something that you pay for which does not benefit you AT ALL. PMI is basically, if you default on the mortgage, the lender is covered. Your credit will still take a hit. Complete and utter bullshyt.

 

[twan83]

yup i'll be looking into getting a house myself i aint putting nothing down unless i have too which isnt likely i will

plus i dont pay property taxes

 

[CrimsonTider]

3.5% if you get and FHA loan