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**Obsidian** · 04-13-2007, 02:56 PM

Hey guys

I decided Im gonna set up a savings account finally and start putting money away for a down payment on a house. (looking at buying in a year or so).

How much do you think would be a good down payment on a $250 000-300 000 home?

I've heard before that first time home buyers can get away with 5% down in some cases, Would 10-20% down make a large difference in the end? Or maybe wait another year and put more down? Or would it be better to put minimum down and buy sooner? I know real estate prices are gradually increasing, and it seems the sooner you buy the better price you will get.

I know there are alot of people smarter than me reading this forum so I figured it wouldnt hurt to get some opinions.

Cheers!

04-13-2007, 02:56 PM	#1 (permalink)
Obsidian VM Member Posts: 148 Location: Kitchener, Ontario Join Date: Feb 2006 Ride: 2003 focus SE Fav Mod: Class: Street	Down payments on homes? Hey guys I decided Im gonna set up a savings account finally and start putting money away for a down payment on a house. (looking at buying in a year or so). How much do you think would be a good down payment on a $250 000-300 000 home? I've heard before that first time home buyers can get away with 5% down in some cases, Would 10-20% down make a large difference in the end? Or maybe wait another year and put more down? Or would it be better to put minimum down and buy sooner? I know real estate prices are gradually increasing, and it seems the sooner you buy the better price you will get. I know there are alot of people smarter than me reading this forum so I figured it wouldnt hurt to get some opinions. Cheers! ------------------ www.OKtire.com