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  • August 1, 2011 at 4:15 PM #18983
    masayako
    Participant

    I’m looking into buying a million dollar house within the next few years. I need some advice here. Really, how much downpayment should I put in?

    Should I put just 20% down & get 30 yrs fixed rate?
    Should I put just 50% down & get 30 yrs fixed rate?
    Should I put just as little as possible and get a 7/10 yrs ARM?

    For those who own high end homes, please advice me and tell me how you guys do it.

    My various investment returns are getting 7% plus Return on Investment, so I’m just curious what exactly is the strategy: Should I keep my money invested or should I put in a big downpayment?

    Thank you very much in advance!!!

    August 1, 2011 at 5:17 PM #714179
    desmond
    Participant

    Put down 100% and make sure to tell everybody about it.

    August 1, 2011 at 5:17 PM #714271
    desmond
    Participant

    Put down 100% and make sure to tell everybody about it.

    August 1, 2011 at 5:17 PM #714872
    desmond
    Participant

    Put down 100% and make sure to tell everybody about it.

    August 1, 2011 at 5:17 PM #715025
    desmond
    Participant

    Put down 100% and make sure to tell everybody about it.

    August 1, 2011 at 5:17 PM #715385
    desmond
    Participant

    Put down 100% and make sure to tell everybody about it.

    August 1, 2011 at 5:19 PM #714184
    gromit
    Participant

    To quote Steve Martin: “First: get a million dollars.”

    August 1, 2011 at 5:19 PM #714276
    gromit
    Participant

    To quote Steve Martin: “First: get a million dollars.”

    August 1, 2011 at 5:19 PM #714877
    gromit
    Participant

    To quote Steve Martin: “First: get a million dollars.”

    August 1, 2011 at 5:19 PM #715030
    gromit
    Participant

    To quote Steve Martin: “First: get a million dollars.”

    August 1, 2011 at 5:19 PM #715390
    gromit
    Participant

    To quote Steve Martin: “First: get a million dollars.”

    August 1, 2011 at 5:25 PM #714189
    AK
    Participant

    I love my house. I’ve told people I wouldn’t sell it for a million dollars. But I’d entertain offers of, say, $1,000,001 🙂

    Seriously though, I’m all about liquidity. I’d say go with 20% or whatever down payment gets you a good jumbo rate. Equity is nice, but these days it’s about as illiquid as you can get.

    August 1, 2011 at 5:25 PM #714281
    AK
    Participant

    I love my house. I’ve told people I wouldn’t sell it for a million dollars. But I’d entertain offers of, say, $1,000,001 🙂

    Seriously though, I’m all about liquidity. I’d say go with 20% or whatever down payment gets you a good jumbo rate. Equity is nice, but these days it’s about as illiquid as you can get.

    August 1, 2011 at 5:25 PM #714882
    AK
    Participant

    I love my house. I’ve told people I wouldn’t sell it for a million dollars. But I’d entertain offers of, say, $1,000,001 🙂

    Seriously though, I’m all about liquidity. I’d say go with 20% or whatever down payment gets you a good jumbo rate. Equity is nice, but these days it’s about as illiquid as you can get.

    August 1, 2011 at 5:25 PM #715035
    AK
    Participant

    I love my house. I’ve told people I wouldn’t sell it for a million dollars. But I’d entertain offers of, say, $1,000,001 🙂

    Seriously though, I’m all about liquidity. I’d say go with 20% or whatever down payment gets you a good jumbo rate. Equity is nice, but these days it’s about as illiquid as you can get.

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