Tim Young, Home Buyer in Cranston, RI

Should I put a large downpayment into a house, that might e a lot more then 20%?

Asked by Tim Young, Cranston, RI Sun Jun 15, 2008

I earn about 52k ayear ,and have about 250k in savings and investments, and the house`s that I am looking a are in the 240-280k range. I am also looking in the Killingly CT area. I am considering paying for half the house with the downpayment, and possibly more.What are the pros and cons of doing this?

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Hi Tim,
I think your question has been answered. I cannot give you different advise than was already given. I can, however, add a view..check out our new listing # 969525...an investment..this house sold in 2008 for $405,000...assessed for over $450,000...and is offered at $245,000. With work, this one can be a no brainer!
0 votes Thank Flag Link Tue Jun 22, 2010
I agree with Cheryl. You should consult the pros and cons with a financial consultant. The pro side would be a chance at a better interest rate, a smaller monthly mortgage and a stronger offer to a seller. The cons would be you may leave yourself short on monies in case of an emergency. Good luck and should you need any further assistance or have any quesitons, please do not hesitate to contact me.
0 votes Thank Flag Link Mon Jun 16, 2008
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