Pros and Cons of doing 5% down payment for home purchase

[Sonu_Patel]

why most desis do 5% down payment and buy homes with higher price ? is it lack of proper planning or intentionally not paying more down eventhough having the capability. 

unlike other non desi friends bought comparatively bought homes with less price and paid more down payment ~40%.

why ? why ? why ?

 

[Pandubabu]

2 minutes ago, Sonu_Patel said:

why most desis do 5% down payment and buy homes with higher price ? is it lack of proper planning or intentionally not paying more down eventhough having the capability. 

unlike other non desi friends bought comparatively bought homes with less price and paid more down payment ~40%.

why ? why ? why ?

 

Few people hold cash if the interest rate is less so that they can use it for other investments which give more yield than mortgage rate. 

In the high interest environment , few people might still pay 5% , assuming they refinance  very soon or waiting to buy doomsday dip in stock market 

Few people don't have money, so they pay 5% pellam poru barinchaleka ..

[Android_Halwa]

6 minutes ago, Pandubabu said:

so they pay 5% pellam poru barinchaleka ..

Hehe

[Guest]

Estart sesava..yevadetta pettukunte neekendiva

[FrustratedVuncle]

16 minutes ago, Sonu_Patel said:

why most desis do 5% down payment and buy homes with higher price ? is it lack of proper planning or intentionally not paying more down eventhough having the capability. 

unlike other non desi friends bought comparatively bought homes with less price and paid more down payment ~40%.

why ? why ? why ?

 

Grand kids vachina kuda nuvvu research stage lone undipoyela unnav. 

[Sonu_Patel]

4 minutes ago, Guest said:

Estart sesava..yevadetta pettukunte neekendiva

5% down valla un necessary ga interest rate high untundi and Mortgage insurance is very high. i want to know how it fly with home purchase process. experience ppl salahalu istarani post yesina.

[sarvayogi]

for our desi munjal buy housing with 5 pc down though they cant afford is more prestige than paying thousands and thousands of dollars pukket for banks and government

okasari naa friend okadu 0 down untunda ani adigadu..oree gorre naayala anukunna

[Guest]

3 minutes ago, Sonu_Patel said:

5% down valla un necessary ga interest rate high untundi and Mortgage insurance is very high. i want to know how it fly with home purchase process. experience ppl salahalu istarani post yesina.

Yevadi thahathu vaadidi..Paisal unte cash tho kontaru. 

[Sonu_Patel]

4 minutes ago, sarvayogi said:

for our desi munjal buy housing with 5 pc down though they cant afford is more prestige than paying thousands and thousands of dollars pukket for banks and government

okasari naa friend okadu 0 down untunda ani adigadu..oree gorre naayala anukunna

prestige aetey prestige cooker la untadi every month.

[Sonu_Patel]

25 minutes ago, Pandubabu said:

Few people hold cash if the interest rate is less so that they can use it for other investments which give more yield than mortgage rate. 

In the high interest environment , few people might still pay 5% , assuming they refinance  very soon or waiting to buy doomsday dip in stock market 

Few people don't have money, so they pay 5% pellam poru barinchaleka ..

good one vayya

[Telugodura456]

no cons ba. I paid 21% down and regretting. I had to face diffculting for a year until i built some savings again.

[Ravi860]

45 minutes ago, Sonu_Patel said:

why most desis do 5% down payment and buy homes with higher price ? is it lack of proper planning or intentionally not paying more down eventhough having the capability. 

unlike other non desi friends bought comparatively bought homes with less price and paid more down payment ~40%.

why ? why ? why ?

 

Purely depends on person.. tbh paying down only 5% is better in this current situation. If you can afford to pay 20% and have savings for next 6 months of mortgage go ahead. If not mooskuni 5% chesi savings pettukodam uthamam in current situation. 

[CherryGaru]

49 minutes ago, Sonu_Patel said:

why most desis do 5% down payment and buy homes with higher price ? is it lack of proper planning or intentionally not paying more down eventhough having the capability. 

unlike other non desi friends bought comparatively bought homes with less price and paid more down payment ~40%.

why ? why ? why ?

 

 eventhough having the capability. 

This is not true.. They do not have capability or financial knowledge.. They just want a house !!

[Anta Assamey]

[Oscar_Buddodu]

57 minutes ago, Sonu_Patel said:

why most desis do 5% down payment and buy homes with higher price ? is it lack of proper planning or intentionally not paying more down eventhough having the capability. 

unlike other non desi friends bought comparatively bought homes with less price and paid more down payment ~40%.

why ? why ? why ?

 

Not everyone has your brain and owner of 8 houses ani @ARYA telling to @csrcsr and @Spartan Annas