What percentage of an investment (such as a car or house) should you have and what is a safe amount to take out a loan for?

0
0
Marked as spam
Posted by Lily Chait (MONEY FORUMS: 4, Answers: 3)
Asked on February 22, 2016 3:32 pm
36 views
0
Private answer

For a home, you should probably count on having 20% of the purchase price (plus more for closing costs, moving, fixing up the place, furniture, etc.) It is much more difficult to get a mortgage for more than 80% of the value of the house unless you qualify for certain plans.

In general, it is more about how much debt you have/how big of a drain are your monthly payments. You control this more by choosing cars and houses you can afford. than by adjusting how much of a downpayment you make.

Marked as spam
Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: February 24, 2016 12:07 pm