We put down 5% on our home. Granted, we got lucky, because we bought in 2018 and were able to refinance in 2020 to a 20 year with a low interest rate AND the value of our home went up $100k more than what we paid. If you have the ability to put down a smaller amount, do your research and make sure you're not overpaying for the value of the home. We have friends who bought in 2008 and are still underwater on their mortgage. Better to put the money you'd pay for a mortgage into your 401K than buy a condo or other property that won't gain value quickly. Check out "I Will Teach You to be Rich". Ramit Sethi has great financial advice for those of us who don't have inheritances and trust funds, and know what skipping a latte isn't going to make us millionaires.

We put down 5% on our home. Granted, we got lucky, because we bought in 2018 and were able to refinance in 2020 to a 20 year with a low interest rate AND the value of our home went up $100k more than what we paid. If you have the ability to put down a smaller amount, do your research and make sure you're not overpaying for the value of the home. We have friends who bought in 2008 and are still underwater on their mortgage. Better to put the money you'd pay for a mortgage into your 401K than buy a condo or other property that won't gain value quickly. Check out "I Will Teach You to be Rich". Ramit Sethi has great financial advice for those of us who don't have inheritances and trust funds, and know what skipping a latte isn't going to make us millionaires.

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