Usually 5% for first time home owners. Depending on your part of the country this may be easier to harder. I know a.lot of younger people getting out of the apartment game and into houses right now.
what, where?? Around here in Germany like 20-40% seems to be the norm, although if you want a really good rate you’re advised to shoot for 50%. Sure, 0% credits do exist, but those have such predatory rates that they’re basically financial suicide.
I just saw a “financial advice” YouTube short that recommended 3.5% down payment and investing the rest in the stock market, assuming that the returns will exceed mortgage interest payments and fees. It’s a risky approach, but the rates aren’t necessarily predatory in the USA - instead they make you buy insurance (PMI) for if you default, which adds to your payments
Usually 5% for first time home owners. Depending on your part of the country this may be easier to harder. I know a.lot of younger people getting out of the apartment game and into houses right now.
what, where?? Around here in Germany like 20-40% seems to be the norm, although if you want a really good rate you’re advised to shoot for 50%. Sure, 0% credits do exist, but those have such predatory rates that they’re basically financial suicide.
I just saw a “financial advice” YouTube short that recommended 3.5% down payment and investing the rest in the stock market, assuming that the returns will exceed mortgage interest payments and fees. It’s a risky approach, but the rates aren’t necessarily predatory in the USA - instead they make you buy insurance (PMI) for if you default, which adds to your payments
The average America spends 500k in interest in their lifetime.
Invested that’s their retirement.