What percentage was your down payment and did you borrow?

amother

Mon, Nov 04 2019, 2:26 pm

I'm trying to figure out how most people come up with the money for downpayments to buy a house, and I was curious to run this poll.

What percentage was your down payment and if you borrowed for it or you had the whole amount saved up?

amother

Ginger

Mon, Nov 04 2019, 2:28 pm

I worked and worked and didnt stop from ages 18-22 got engaged and had a full downpayment saved up bh. We bought a house in shana rishona. Had I waited we would have blown thru a lot of the savings. We had a bunch of expensive years after that where we figured it out because we had to!

amother

Seafoam

Mon, Nov 04 2019, 2:29 pm

we put down 100.000 dollars on a home that cost 450,000
and took out a mortgage which we just paid off
this was years ago

TwinsMommy

Mon, Nov 04 2019, 2:32 pm

Renters for life. We are both 45, happy with the size of our house, happy with our landlord, and no longer wanting to buy.

mha3484

Mon, Nov 04 2019, 2:42 pm

We put down 10% of a 215k house. We used grants from the state, some money we saved from tax returns and my grandmother and aunts/uncles gifted us the down payment and money for renovation. She basically gave us what she would have given me when she died (MOST AWKWARD CONVERSATION EVER).

amother

Floralwhite

Mon, Nov 04 2019, 4:42 pm

Put down 20% that was gifted to us by our parents, and the rest of the purchase price was mortgaged.
From what I remember, legally you cannot take a loan for the down payment. Our parents has to sign a legal document stating it was a gift and not a loan. They also had to prove where the money came from since we didn’t have it more than 90 days before applying for the loan (they sent the $ directly to the escrow company)

amother

Seashell

Mon, Nov 04 2019, 4:47 pm

Put down 10% on a house just under 200k. Took out a private loan from a gemach to cover the closing costs.

amother

Yellow

Mon, Nov 04 2019, 5:28 pm

118k on a 540k house. Saved up the money b4 we bought.. Got 10k present from family. We couldn't renovate we were left penniless 😂😂😂 next time we learnt to put down much less and have more to use but Noone told us that and we were clueless.

amother

Beige

Mon, Nov 04 2019, 6:17 pm

We saved up penny by penny over many years. We got no down payment gifts. My DH lost his job, was out of a job for a while, we needed to use up our savings to live. So no buying house😰

amother

Silver

Mon, Nov 04 2019, 6:53 pm

We put down 20% (94k) and had most of it saved up from years of penny pinching and me working my a$$ off. We borrowed about 10% (10k) of the down payment and BH it's all paid back now 3.5 years later.

amother

Olive

Tue, Nov 05 2019, 2:08 am

Put down $170,000 on an $850,000 house, from our savings.

We got married late having worked and saved for many years, DH had his own business which was doing well, I worked too, we lived frugally.

We could have put down more, but we used the extra money for renovations.

rivkam

Tue, Nov 05 2019, 10:42 am

I wish this was even an option for us. In israel a down payment for a first house is minimum 25 percent

Rappel

Tue, Nov 05 2019, 10:51 am

rivkam wrote:

I wish this was even an option for us. In israel a down payment for a first house is minimum 25 percent

Minimum 30 percent, if I'm not much mistaken.

We'll get there, rivkam! I fully intend to plant my family and many trees in EY before I die, and בדרך שאדם רוצה לילך... Smile

rivkam

Tue, Nov 05 2019, 10:54 am

Rappel wrote:

Minimum 30 percent, if I'm not much mistaken.

We'll get there, rivkam! I fully intend to plant my family and many trees in EY before I die, and בדרך שאדם רוצה לילך... Smile

Beezrat hashem we'll get there!

amother

Honeydew

Tue, Nov 05 2019, 11:43 am

We were graciously gifted the money for the down payment for our home from my in laws. I can not remember exactly how much it was for, but in israel, where we bought, it is way more than 5 or 10%, that I remember.

amother

Beige

Tue, Nov 05 2019, 11:47 am

amother [ Honeydew ] wrote:

Your FIL came to my house to ask for Tzedaka cause he's marrying off a child...
I live in America, the rich country.
I gave him some tzedaka, While I still rent...

amother

Honeydew

Tue, Nov 05 2019, 11:50 am

amother [ Beige ] wrote:

Your FIL came to my house to ask for Tzedaka cause he's marrying off a child...

Excuse me???? You dont know me or my in laws from adam. And no, we were not newlywed when we were gifted this money and no my in laws did not go begging for tzedakah. They do very well in a family owned business and love being able to help their children.
But thank you for assuming the worst. What a terrible thing to write.

amother

Honeydew

Tue, Nov 05 2019, 11:52 am

amother [ Beige ] wrote:

Your FIL came to my house to ask for Tzedaka cause he's marrying off a child...
I live in America, the rich country.
I gave him some tzedaka, While I still rent...

And my in laws have never stepped foot into america and they are not from israel either. They aer from a different country, but again, thank you so much for assuming.

amother

Pink

Tue, Nov 05 2019, 1:06 pm

[quote="amother [ Beige ]"]Your FIL came to my house to ask for Tzedaka cause he's marrying off a child...
I live in America, the rich country.
I gave him some tzedaka, While I still rent...[/quote

I'm sorry for your pain. But you can do better.

amother

Ivory

Tue, Nov 05 2019, 3:21 pm

amother [ Beige ] wrote:

Your FIL came to my house to ask for Tzedaka cause he's marrying off a child...
I live in America, the rich country.
I gave him some tzedaka, While I still rent...

OMG are you kidding???????????
What a rude thoughtless and in sorry very stupid comment !