this post was submitted on 18 May 2025
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United States | News & Politics
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Uh, even in more expensive areas $100k down payment seems a little insane
$100k is 20% of a $500k house. 20% is the traditionally "normal" amount, and $500k is a pretty average price in big cities these days...
A lot of people put down 10-15% and pay the PMI. That's what we had to do.
Or 3.5% with an FHA loan (if that's still a thing?).
I don't think most people are putting 20% down anymore tbh. Especially not in those places
100k is 6 digits
Right, the comment I'm replying to is saying that 5 digits wouldn't be enough
No it isn't. It says "who has that?", and "what bank would approve the loan for the falling apart shack that would buy"