Posted on December 22, 2007 at 12:10 pm Most lenders will require you to put down 20% or buy mortgage insurance.  If you can put down the 20% I would suggest doing so because you will not only pay less in interest, but save $50 a month or so on the insurance.  Most people do not have the 20% to put down.

Posted on May 30, 2008 at 3:29 pm Gosh, I would never have thought a 20% down payment would make such a difference. I am planning on buying my first home at the end of the year, start of next, with my partner. We were going to have 10% in savings and then use our first home buyers, just to get through, although I guess if you have that extra savings, you have more chance of getting the loan then? Thanks in advance

Posted on June 12, 2008 at 1:25 am Even though the minimum down payment here is only 10%, I would advise  borrowers to  pay a bigger down payment that they can afford in order to minimise the interest they are ging to pay in the long run. Don't just pay the bare minimum as you are giving all your house "profit" to the banks.

Posted on December 1, 2008 at 6:46 pm Most banks would ask you to put down a 20% down payment. and it is a good idia to put down as much as you can. Other wise you will end up with a higher interest rate.

Posted on December 1, 2008 at 8:21 pm When I find the right house, I will be plopping down at least 15% for a down payment.  I will definitely make as large as a down payment as possible, as I would prefer to pay off my house quickly, and with as little as possible going towards paying on interest.The hardest part of building up the down payment is not looking right now!  I have seen so many great deals just by driving around on normal errands, and my desire to buy the house is growing much quicker than my down payment towards one is.Happy savings!

Posted on December 2, 2008 at 10:38 am Believe it or not, many municipalities still have first time buyer assistance programs. In our county, they offer a percent of the purchase price up to a max of $7000. The 7K is given as a silent loan with payback not expected if you live in the house for 10 years. If you sell it, they are automatically elevated into second position behind the first. That means at close of escrow, they get their 7K plus a few bucks in interest and everybody walks away happy. There are other programs but like the county's, they come with hoops you must jump through. In today's devastated real estate market, the hoops aren't as onerous as before. If you seriously looking at purchasing a home and are using a realtor, make him or her find every buyer assistance program that exists in your locale. You'll be happy you did.

Posted on March 23, 2009 at 8:24 am Do you lose just part of or the whole down payment or deposit you put on a house, building or shop?

Posted on March 23, 2009 at 2:25 pm Thanks for all the opinions everybody, I'm hoping to move into a house this summer and me and my fiance have the same question (=

Posted on March 24, 2009 at 4:22 pm Will have to check into that money for first time home buyers. Combined with the $8000 incentive (governmental) for buyers this year, that would be a big savings!

Posted on March 24, 2009 at 4:36 pm About 6 months ago you were required to put 10% of the total value. When I bought my apartment for £130 000, the builders put down 5% for me so I only had to pay £6500. I was very lucky due to the recession people now require as much as 25% to 30% down payment for a mortgage and as a result many people do not get one.