Times have indeed changed, and the traditional practice of putting 20% down to buy a home may not be the best option for everyone.
If you have the option to use funds from the sale of another property or if putting down 20% wouldn’t significantly impact your finances, it can still be a viable choice.
However, it’s important to consider the long-term implications. With loans amortized over 30 years, making a larger down payment may not substantially affect the monthly mortgage payment.
In some cases, it might be wiser to prioritize cash flow and use the money to pay off high-interest debt or invest in opportunities with higher returns. Ultimately, it’s crucial to assess the potential benefits and costs before deciding how to allocate your funds.
Original video: @markneelyhome
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