Homeowners, were you able to put a decent down payment on your house?

Question

My husband and I are 30 and 35 and make over $100k each year before taxes. With the cost of living and renting a decent place, we can't seem to save enough for a down payment on a house ($15-25000). And we're adamant about not buying a fixer upper or something we don't want just to build equity or to say we own the home we live in. Plus, we don't have the time or desire to remodel, fix up, etc.

With all that said, how much did you put down on your first home? Did any of you manage without a down payment? Was it what you wanted? Did you have to remodel or fix it up?

Answer 1

In order to get a good deal on my mortgage, I wound up putting 20% down.  I borrowed from my folks, took a loan on my 401(k).  

It wasn't a fixer, but I did have to do some small remodeling (replacing sink/toilet, painting, floor repair, etc.).

Answer 2

This is our 2nd home that we bought in 05 and we gave

15k down payment and the other loan was for 10k since the

mortg.loan was an 80/10/10 and we also paid that off

so instead owing much more its a 120k home we only owe

75 on it, its alwaysbetter if you give a larger down payment

that way your mortgage payment is low, we only pay 513,

our insurance is about 950 and property taxes 2300 thats

where we really have to save, but since our child left for

univrsity, Idont need a big home anymore, Ithink well get a

small home or a mobile home and start saving all that

money for retirement. The only way we could save for

that 15k d.payment was my mother gave me a piece of

land/property normally it would be hard to save in ashort

time. But if gas prices dont come down soon I think  a mobile

home I would be happy in and not get stressed so much.

Good luck!!!