My realtor pushed for a 20% down payment but my buddy's 5% FHA loan got him into a $300k house in Tampa last year with way less cash upfront.

I saved for years to avoid PMI, but now I'm priced out while he's building equity, so is the conventional wisdom on big down payments actually wrong for first timers in a hot market?

2 comments

2 Comments

ross.jason1mo agoMost Upvoted

Man, that's rough. The real risk is your buddy's loan if the market dips, not just your missed chance.

derekp701mo ago

Yeah, tell me about it. My buddy's already picking out new rims for his imaginary truck.