Hello Blind community
We are a couple and are in our late twenties. We are planning to buy a house sometime in Q3 next year but not sure about certain things so thought of taking opinions from the blind community
Household TC: 330K
1. Should we buy an independent house or a townhouse. Is it too early to think about this?
2. Our financing guy says put down 20%. Is the mandatory? Cannot we go with 10-12% to secure the deal?
3. What is the minimum we should keep as emergency money.
4. Is there a way to get best optimized interest rate in the market? What should we consider a bank or a private lender?
Thank you.
#housing housing #mortgage
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comments
2. You can put a lower down but your interest rates will go higher. It’s also a higher burden on you
3. lenders expect anywhere between 3-12mo of monthly payment. I personally think 6mo is safe.