Question Details

Peng Yu, Home Buyer in 46204

will I be financially better off if I put more downpayment than required (20%)?

Asked by Peng Yu, 46204 Thu Jul 3, 2008

I just assigned a purchase agreement on a house less than 250K. How much downpayment I should put, 20% or 35%, if I have the cash? I need 20% to avoid PMI. But will we be better off if we put more down? On one hand, we can pay less interest. On the other hand, I heard putting too much cash down will miss other investment opportunities (actually I don't know what to invest given the current economy).. Thanks in advance!

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Talk with a cpa who can work with you for short and long term goals, there is not enough detail for someont to truly make a comment.
1 vote Thank Flag Link Thu Jul 3, 2008
You are asking a financial question that I don't really think a Realtor has any business answering. I suggest you speak with a financial planner or at least a CPA and have an honest discussion about your financial health and what your plans and goals are. Sorry, I am sure this isn't what you were hopping for however, we are really not the right people to answer this question.
1 vote Thank Flag Link Thu Jul 3, 2008
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