How old when you finally bought your first house?

Question

and also another quick ?: How much of a downpayment would you generally need on a $150,000 home?

Answer 1

I was 18.

Down needed is program and score driven...0%<.
You can even still get in with zero down & closing costs paid by others.

PMI: Good or evil?
Depends...Sometimes it is cashflow cheaper to pay the MI.
Deductible? Whether it is or not does not matter if you don't itemize and just take the standard deduction.

Answer 2

I was 24 when I built my first house. We closed on it 2 days before our wedding (and before our honeymoon). 20% is the standard amount to put down on a house so that you dont have to pay for Private mortgage Insurance, so $30,000. Some places will let you do less, but they are harder to find in the past right now. If this is your first house, you can also ask about an FHA loan, which lets you have a very low downpayment. Good luck!

Answer 3

I was 24 when I dove into home ownership. But that was in the early 1970's, and I'd hate to tell you how much that home cost me compared to today's market.

Downpayments vary according to the type of loan, credit score, and other factors.

You are wise to avoid PMI, regardless of claims to its tax deductibility. You need to purchase your home in 2007 in order to qualify, and a little known fact is that the PMI deduction only applies to PMI paid in calendar 2007. Congress has not yet renewed it for future years.

Hence, if you buy now, you would, at best, get the PMI deduction for a month or two of payments, with future payments in doubt as to tax deductibility.

An alternative to this is an 80-15 piggyback loan. Check with a mortgage broker concerning this option.

Answer 4

I was 31.
Depending on the type of loan you get, the average is 10% down payment. FHA and first time buyers can sometimes get anywhere from 100% financing or 3% down.

Answer 5

get a tape recorder, your cellular telephone will do, walk around the domicile and ask questions like who's right here, what do you like, yet in addition be certain you word any circulate you do, like in all threat whisper to your self or your footsteps or different noise you're making or site visitors, obtain wavepad, its unfastened, then upload your recording and open that document in wavepad, the place it says enhance, do this to the max cut back, any straight away lines you notice enhance them as some human beings would think of they have no longer something on that recording and once you enhance that flat straight away line, seems they have have been given something, or deliver it to me i will hear to it for you and deliver the document lower back to you after ive wiped clean it. if its something telling you to 'get out' tell it to get out itself, you reside there no longer them, dont difficulty too plenty approximately it. dont permit human beings scare you with this demon crap, you're able to do evp/rcording each time of day or night. on the different hand, its a clean domicile and you are able to desire to get used to it and the noises of the domicile like the heating and stuff. dont forget approximately additionally, pets have super sonic listening to and might hear issues for miles down the line, he can prob hear yet another dogs howling. word: no longer ALL animals are psychic.

Answer 6

I was 21 when I bought my house and they usually want 5% down.

Answer 7

19

It depends on the loan you get. If you can get an FHA loan then you'll only need about 3%.

Answer 8

22. usually about 10% which would be 15,000.00. good luck .

Answer 9

31

if you put down 20% you won't have to pay mortgage insurance (which will bleed you dry)

Answer 10

29.
$15,000 (10%).