Home Ownership As an Investment
What are general guidelines for down payments?
Most lenders would prefer you to put down 10–30% of the house price as a down payment. This may enable you to get better interest rates, pay fewer fees or points, and reduce your monthly payments and interest over the life of the loan. Banks offer many programs, including federal incentives for the purchases of homes, especially for firsttime home buyers. Check with your bank or mortgage adviser.