How Much Should You Put Down on a House?
This is one of the first questions I hear from first-time buyers. And honestly? My answer might surprise you.
Talk to your lender first.
I know that sounds like I'm passing the buck. But here's the truth: your lender knows your financial situation better than I do.
They see your income, your debt, your credit score, your savings. They know what loan programs you qualify for and what makes sense for your specific situation.
Some buyers can put down 3.5%. Others do 10%. Some have 20% saved up. There's no single right answer that works for everyone.
Why I Send You to Your Lender
I've been doing this for over 20 years. I can help you find the right house and negotiate a good deal.
But I'm not a lender. I don't have access to all the loan programs and options available to you. I don't know the details of your finances.
Your lender does. They can run the numbers and show you what different down payment amounts actually mean for your monthly payment and your loan terms.
What This Means for You
Before you start house hunting, talk to a lender. Get pre-approved. Ask them about down payment options.
They'll tell you what you can afford and what makes sense for your situation.
Then we can start looking for homes that fit your budget.
It's that simple.
Have questions about buying a home in Forest Grove? I'm here to help. Reach out anytime.
