Ranjan there is nothing “wrong” with only putting 10% down. The point that is being made is that from a market perspective, lax lending standards and risk prone financing ultimately leads to inflation of the security which then leads to bubbles which produces an unhealthy market. While you may be a very responsible person the fact is that most people cannot control themselves. We are a nation of consumers who really know very little about living within our means. It is a behavior that is promoted by pretty much every entity in our society and not only encouraged but essentially rewarded by our government.
Now while pretty much everyone here frowns on people who are looking to buy now, it may be argued that we are approaching a point where low downpayments and low interest rates are going to disappear. When that will happen or if that will happen is up to speculation. It sounds like you are on the cusp of buying. If you look at past posts you should be able to dig up HLS’s email. Also your Realtor should have many broker contacts who can find loan programs that will match your needs.
