Quote:
Originally Posted by Bearcat
Put 20% down to avoid a couple thousand in PMI, be ready to spend some money on small stuff, and it doesn't hurt to have some put away just in case....
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But too many are in the OPs case where they have no savings but think they should buy a house! They come no where close to 20% down. Renting is the best option to build an emergency fund, which can be followed by saving for a down payment for a house. To many idiots with no savings who lose a job and then can't pay the mortgage. Easier to break a rental lease then a mortgage!