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· Down payment: 10%. Iowa-based entrepreneur Richard Dedor and his husband put down between $20,000-25,000, which was right around 10% of their home cost, in order to position their mortgage payment …
· The difference between a 5% down payment and 10% down payment becomes less significant. Going into home ownership with a solid savings balance is necessary. If putting down less is what allows for that, then we would certainly lean towards putting less down. The monthly mortgage on a 5% down payment is $1,791 while a 10% down payment is $1,717.
5% Down Vs. . 10% Down. -. A Comparison. It has always been an issue for home buyers to save their down payment. Many people, on advice from various people wait to save 10%, rather than moving into the home sooner with 5% as a down payment This is not always a good idea. Let me explain; We have 2 young couples, the Jones’ and the Smiths.
· Below we will look at the difference in putting 5%, 10%, 15%, or 20% down as a down payment. 5% Down Payment. Using the assumptions above, putting 5% down ($14,750) would make your monthly principle, interest, taxes and insurance (PITI) about $1,610. Over your 25 year mortgage you would pay over $71,000 in interest.
5% vs 10% down-payment? HELP My fiance (F) and I (M) are first time buyers and looking to a house/condo/townhome around the price of ~250k and I want to put down the 5% for a conventional loan but she is conviecd it is better in the long run to put down 10%.