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Thought I needed 20% down until a lender in Columbus laughed at me over the phone
For two years I saved every spare dollar because some guy at a barbecue in 2022 said you can't buy a house without 20% down, and I was sitting at $11,000 feeling like I'd never get there. Last week I called a lender just to ask how far off I was, and he said most of his first time buyers put down 3 to 5 percent, so my $11k was way more than enough to start looking. Did anyone else waste a year or two saving for a number nobody actually required?
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paige_bell814d ago
My buddy did the exact same thing, sat on like $14k for almost three years because his dad kept telling him 20% or nothing. Turns out he only needed about $8k down plus closing costs and he could've been in a place way sooner. It's wild how one random comment can cost you years.
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