Put down as little as possible! We had a house that we had put 35% down on. Courtesy of Wall Street, the Banks and our Government (yes, they are all guilty in creating this housing disaster) our house lost about 40% of its value. When my husband was transferred, we were forced to short-sale the house and we lost over $230k in equity. The mortgage holder lost about $40k on the deal. Our credit was ruined by this and basically we have been told by multiple banks that they wont lend to us until we are 4 or in some cases 5 years fom the short-sale. Housing is a bad investment and will remain so for the next 20 years. Take any extra money you have and put it somewhere else!!!

He had some good things to look for and to consider. You should also check with the bank if you can make payments up front. I believe some credit unions do this. In other word your payment is 400 a month and if you give them 800 you do not have to make a payment for two months. Most banks will say you can not do this if you give them ten payments in May they will still want a payment in june they say the other 9 payment will shorten your loan. They tell you to put it in a savings account which is paying you little interest and the interest you get is taxed.

Of course a mortgage expert is going to tell you to borrow more. That's how he makes his living, by encouraging debt.

There are a few factors that determine a down payment. First of all is monthly payment. You should choose a house based on what you are able to afford. Whereas the subprime industry made virtually anyone qualified to buy a home, this didn't mean you can afford it. Realtors, lenders, investors, appraisers, and buyers contributed to the problem we have today. Secondly, values rise and fall. The days of purchasing a home to turn a quick profit are over. It goes back to buying a home you can afford. No one makes or loses money until the house is sold. That's why a person should always look at the payment they can afford. The final thing is more for the move up home owner. There is a capital gains issue. The proceeeds of a purchase after the sale of another home can have tax implications if it is not applied properly in a down payment, especially for investor properties. One should consult a tax professional when making such decisions

Its not so much how much you put down , but what you can afford. Usually 3 times your annual gross is a good start. If you make $30K a year , don't think you can afford a $250k home.... Most times if you put less than 20% down you'll pay a PMI (private mortgage insurance) - thats a policy you pay for....to the bank & can run from $100- $200 extra tacked on your mortgage. Keep it simple. Take the time to crunch the numbers, regardless of what others tell you.

well put Randy C!

Does anyone out there know a lender that will finance a manufactuered home in Arizona that is on land? Also the big issue is for me to buy it for my daughter to rent it from me. I would be an investor purchaser. So far it has been brick walls when knocking on lendrs doors.

When I graduated college, I ventured out into the world only to find the disappointment caused by real estate investors. Prices were ballooned far beyond the reach of the average 20-something trying to begin life. My vision of a home was destroyed by investors vision of a dollar sign. My dream home is nothing more than a trend line to the world.

Most of our young people are now the working poor due to rent inhibiting them from saving any extra money. Children are now being raised in apartment complexes and section eight housing. The white picket fence is now nothing more than a dream.

To some of us, housing is not an investment but a home for ourself and our families. I hate how real estate chat always treats housing for its simple monetary value like a stock. I think we should enact a rule like China did that limits every person to one piece of real estate.

I hope home prices continue to fall (back to where they should be) for the sake of the next generation. Sorry homeowners but you will get no sympathy from me.

I put over 40% down on a $180,000 home and put more money into it and four years later I lost my job as a Roof Truss designer and the banks kept telling us that they would modify our loan but what they were really doing is keeping us from getting bankrupsy and just like a hawk they cam in and took the house. Now my family and I hare homeless crashing with friends and family and to make it worse I have been out of work for three years and when I did find a job over 2,200 miles away I had to leave my family for the past two months. And it does not get any better I can't even find a home to rent, So I may loose a good job Because I just do not want to be away from my wife and kids.