Buying is not smart with those numbers (Contraman’s), but why do people keep saying you need 20% down? People with good income good credit don’t need 20% down. On houses where 20% down equals the 60k to 80k that everyone is throwing around here you don’t need it. Anybody buying a house where 20% down is required should have it, or forget it. There is nothing wrong with buying a fairly priced, modest house with less down and it is still very available for people with good income and credit. I am not saying buy. I am asking why is this 20% all of the sudden a wrench in anything? Mortgage insurers are resetting LTV standards to 95-97% and raising Fico score requirements a little. Stated income is largely going the way of the dodo bird. It might get tougher but it isn’t yet.