House down payment: Is bigger better?
May 8, 2012 6:17 AM Subscribe
House down payment: How much is best in the current economy?
posted by svenx to Work & Money (13 answers total) 4 users marked this as a favorite
We're in a position to comfortably make more than a 20% down payment on a house (it wouldn't wipe out our savings, and we'd have enough left for renovations, emergencies, etc.). I think that in the past the advice was to put the minimum down and just invest the rest, but my (naïve) number-crunching makes it look like we'd be better off putting more into the house up front these days. Is there a general consensus on the best approach in the current market? (It would be a standard 30 year mortgage, probably ~4% interest, fixed-rate). Lower monthly payments are also appealing for a variety of reasons.
(I've seen previously
, but those posters both seemed like they were choosing between putting more down or keeping some buffer money, and we should be able to do both.)