Quote:
Originally Posted by Table 5
I agree with his bold statement. If all you can scrap together is 5%, chances are you're not in a position to make the biggest purchase of your life. Part of showing you're financially sound is saving up for that down payment. It's not easy, and it takes time, but I don't think 10% is unreasonable.
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Thanks Dad.
I disagree with the bold statement (and blanket statements in general).
I bought my house with 5% down. Our mortgage is less than 2x our household income. Are you suggesting my wife and I are over our heads or not financially sound?