I’m having trouble finding clear answers to this question online. My husband and I make $110,000 before taxes and retirement funds are taken out and are starting to save for a down payment on a house. We want a house around $300,000. What I can’t figure out is what percent down payment should we be aiming to save for? What are the benefits to having a 20% downpayment long term and short term.. do we save a significant amount of money over the years by putting down 20%? I’ve heard we save a ton of money long term (like over 60,000) by saving for 20%, but I’ve also heard that it’s really only a $100 a month that is saved. I’m confused on this and need some dumbed down advice here 😖
Edit: Our credit scores are both above 750
Submitted January 11, 2019 at 02:44PM by IEnjoyCats http://bit.ly/2SKEyiG
