“There are plenty of zero down buyers in the 1M+ crowd as well. Do not worry stupidity runs across all price ranges.”
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Going zero down may very well be an extremely astute decision, depending on the circumstances. I have two acquaintences (one is my mortgage broker) who have gone zero down on expensive properties as part of a bigger financial strategy. Zero down does not automatically equate to stupidity – in fact, it may equate to just the opposite.