[quote=jpinpb]
AN – Thanks for the explanation. I appreciate you taking the time. I still am a little confused. You said 80%. So that means putting 20% down? Not to be dense.
I have a question for anyone out there. Are those intending to eventually buy planning to put 20% down?
I originally intended to put 20% down, but w/each day hearing about the unemployment rising and the economy doing so poorly and the inventory rising and potential future decline in r.e. prices, if I bought today, I would only be comfortable putting down the minimum.[/quote]
Yes, I do mean 20% down. I use 20% down because I don’t want to calculate PMI into the equation. That and I think PMI is a total waste of $ if you don’t have to pay it. I personally think you should only buy a place you can afford 20% down on and still be able to have some reserve. If you don’t, then I think either you’re not ready or you’re buying more house than you can afford.
