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Home Forums First Time Homebuyers Discouraging Downpayment Reply To: Discouraging Downpayment

Dustin Owen

Simply put…the money can be used better elsewhere. However, if all other boxes are checked and this helps you sleep best at night then that is an easy go-to answer. I personally don’t like 15 year fixed mortgages or putting more money down than needed to qualify unless all of the other boxes are checked:
– No debt
– 6-12 months cash reserves
– Maxing out 401k / IRA
– Money invested in other intermediate avenues (mutual funds, company stock, real estate, memories made with friends and family etc.)
– College savings for kiddos