Down Payment
The standard down payment has always been to put 20% down, and while this is not a bad idea, it is not always the best idea. Saving for a down payment is arguably the hardest part of buying a home. But, what if you have the money saved? How much of that should you actually put down?
More than 20%?
I would argue it is hardly advantageous to ever put more than 20% down on a home. The reason is, the savings that you experience monthly by putting more down hardly makes up for the return you could see elsewhere.
For example, if you are paying 4% interest on a loan with your money down, but you could experience 6% growth in that same money if you invested it elsewhere, then it makes sense to invest.
Not all situations are alike, and it is important to speak to an expert.
Listen to the audio below to hear the full conversation!
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