Re: Buying a home
Posted by:
First Time
()
Date: March 22, 2009 11:12AM
I bought my first place about a year ago, with 3% down. I don't remember how much I had in the bank, but I don't think it was more than 10k. If you think it will take you a long time (as in, after things start to rebound) to stash 15% or 20%, doing it now might not be a bad idea.
But let me tell you, only putting 3% down has its drawbacks. I'm paying about $91 a month for my PMI. Also, by putting so little down, I'd be lucky to not be a little upside down right now, which sucks if you're trying to refinance.