Quote:
Originally Posted by Calgary14
I can still remember when people could go zero down, 40 year amortization
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When I started I didn't go zero down, but got max amortization (I think it was only 35 years at that point). It was a great strategy as I was just starting out. I was allowed to increase my payments by 25% and lump sum per year of 25%, so if I had the money it was easy to put it on the mortgage. However, if my income source dried up suddenly, I could fall back on the teeny tiny payments a 35 year mortgage offered.