Quote:
Originally Posted by Wookie
Yup, it's the blanket statements that bother me. You should do this, do that, 25% down at least or you shouldn't be buying a house, 35 year mortgage terrible! etc.
Decide what works for you and go for it!
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That's completely fine. The reason for blanket statements is that many need to listen to the blanket statement to avoid doing something stupid financially. There are plenty of financial illeterates out there that just want to live in the nicest or biggest place a bank or FI will lend them money to live in. Lowest Common Denominator statement for sure. Often it isn't a case of I have $100,000, is it best used all towards a down payment for this house? But rather "I have $25,000, how big/nice of a house/condo can I buy?"