First real estate I bought was a condo while I was a BYU student, and I did FHA with 3.5% down. First home I bought I

Jan 21, 2021
10:44:19am

cheezedawg medium

did an 80/20 loan but did pay down the purchase price (this was new construction) using proceeds from selling that condo. And I consolidated and paid off that 20% loan in a refi a year or 2 later after the property had appreciated a good amount.

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cheezedawg

Bio page: cheezedawg
Joined: Oct 4, 2007
Last login: May 29, 2024
Total posts: 66,673 (16,833 FO)

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Messages

Author

Time

POLL: What % did your put down on your first house?

PabloSanchezz

1/21/21 7:08am

Where is the 0% option?

Radioactive Coug

1/21/21 7:08am

Yep, I took advantage of the creative financing back in 2003 in the SF Bay Area

NOCAL_YFAN

1/21/21 7:22am

Yep, USDA (RD) loan at 0%

hugoreyes

1/21/21 7:24am

Same. VA loan.

Junior Deputy

1/21/21 7:55am

Yep first time home buyer program for 0%

runnincoug

1/21/21 7:59am

FHA 221D-2 loan with 3% down. received 3% commission on purchase, net ZERO down.

grandpacoug

1/21/21 9:33am

-1.5%. Had a grant from the county and actually got money back at closing

4th and Niner

1/21/21 7:23am

And that is how you win at life.

WDaddy

1/21/21 7:23am

0% USDA

BIG XII Coug

1/21/21 7:56am

So you're paying closing costs too for the next 30 years, with interest?

TheLoneCougar

1/21/21 8:29am

I did the same, but leveraged that into enough equity in my next house that I'll

Adwight

1/21/21 8:36am

Equity can't always be assumed but luckily for most over the past 10 years, it has basically gone up and to the right.

TheLoneCougar

1/21/21 8:43am

Sold that house after 3 years after it went up 40% in value.

BIG XII Coug

1/21/21 10:09am

Where is 100%?

Archaea

1/21/21 8:17am

0% rural housing loan

BYUFootballisBack

1/21/21 8:26am

People feel proud about putting 0% down, but remember that all gets rolled into the amortization schedule.

TheLoneCougar

1/21/21 8:31am

Not pride, just not a poll option...

BYUFootballisBack

1/21/21 8:40am

It certainly may not be the case with you, but a lot of CBers take pride in borrowing as much money as possible using

TheLoneCougar

1/21/21 8:45am

Not at all. It was a good way to get into a home quickly.

Radioactive Coug

1/21/21 9:26am

Exactly, and enabled us to buy our first home when we otherwise couldn't.

runnincoug

1/21/21 9:37am

Yep, we were graduating college, went looking for fun, realtor presented 0% down

BYUFootballisBack

1/21/21 11:37am

0% VA loan

ChinaFan

1/21/21 9:26am

First real estate I bought was a condo while I was a BYU student, and I did FHA with 3.5% down. First home I bought I

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