The Weekly Poll: How much did you put down on your home?
This week’s poll is loitering over in the side bar. Go over there and click on it before it gets itself in trouble.
This week, former Bush Treasury Secretary Paul O’Neil said that in order to protect our financial system long-term, all future home loans should require a 20% minimum down payment. And that got me to thinking: even though we all know that it was a lot of no money down loans that got us into the mess we’re in now, is 20% down on every home realistic? And how many people would that knock out of the home buying market?
So, here’s my question this week – exactly how much money did you put down on the last home you bought? Could you have bought your last home if you had had to put 20% down or would you still be a renter today? I’m curious to see how many folks come in under 20% – I bet it’s a lot.
100% financing may have gone the way of the dinosaur, but you can still get the latest news on the Knoxville real estate market with absolutely no money down. Subscribe to All Around KTown in a feed reader or by email today!
Author: Suzy
Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.
Since ours was closer to 10% than 20%, I chose 10%. All in all, I think we did 13%.