Your take is quite informative. I wish more TH-camrs would put the same effort into producing a video. Anyway, thank you for explaining Conventional Loan Limits!
You really aren't going to mention PMI? This is horrible advice. Don't put the minimum down payment down unless you want to work to pay back the bank for the rest of your life.
All the examples I used here soley were comparing typical first time home buyers, but I disagree. Plenty of scenarios where home buyers have made plenty in equity with the minimum down. VA loans are a great example. But even on conventional PMI putting 10% down isn’t much if you’ve got good credit, and the difference in payment vs how much you have to sink into the equity of the home is a big factor too.
Your take is quite informative. I wish more TH-camrs would put the same effort into producing a video. Anyway, thank you for explaining Conventional Loan Limits!
You really aren't going to mention PMI? This is horrible advice. Don't put the minimum down payment down unless you want to work to pay back the bank for the rest of your life.
All the examples I used here soley were comparing typical first time home buyers, but I disagree. Plenty of scenarios where home buyers have made plenty in equity with the minimum down. VA loans are a great example.
But even on conventional PMI putting 10% down isn’t much if you’ve got good credit, and the difference in payment vs how much you have to sink into the equity of the home is a big factor too.