Quote:
Originally Posted by justplugit
Yup, simple solution-- 20% down, and good credit rating.
FHA still only requiring 3-4% down.
When people have to work and save a 20% down payment they have a tendency
to take care of their property and think twice before foreclosure as they have
their sweat and tears in their house/investment.
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Absolutely. For most, putting 20% down also demonstrates that you can be responsible with your money. For a $250k house, it doesn't take nearly as much commitment to scratch together $8000.