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I bought my house in portland with barely 5% downpayment a couple years ago Who has 25% just sitting around
by mock-possum 2y ago
I bought my house in portland with barely 5% downpayment a couple years ago
Who has 25% just sitting around
- hellojesus 2y agoEven with 25% down, the monthly mortgage payments for homes in the area are aggressive. Typical 4-3 homes in the area are hiting the 800+ threshold.
- lumost 2y agoTypical closing costs are 5%, while the seller usually pays these on purchase - it means that you lose 5% of your home price when you move house. On a typical 20% down payment, that means you lose 100% of your down payment when you move assuming a flat market. Home ownership is a great financial vehicle in up markets, or if you live in a location for a long period of time.