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Ask HN: What % of your net wealth did you put into your downpayment?

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Re: Ask HN: What % of your net wealth did you put into your downpayment?

#11
Personally, as little as possible. Rates are low, and the political/economic situation is volatile. Let the bank hold the risk.

You’re better off with a shorter term... use small chunks of your savings to cover 2-3 payments over a period of years. That is my one regret —- my brother scrimped to afford a 15 year loan and will own his house in two years. (He’ll be 41) Run a few scenarios, changes to the deduction structure for property taxes impact the net in high tax states.

Re: Ask HN: What % of your net wealth did you put into your downpayment?

#12
I put pretty much all of my money into the deposit. I also borrowed as much as I could be lent, which was 5x my salary. The goal was to get a family home in a good location.

Should someone else do the same? It depends on your goals really. I don't even think everyone should buy a house, again that depends on your goals and your situation.

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