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Nov 12, 2024
8:43
:26
am
Skeptical Optimist
Political Junky
If you put $200k down, your closing costs and P&I are based on an $800k loan
That means you’ll pay more closing costs and have a higher monthly payment compared to a $700k loan.
I would assume the total interest paid would be pretty close.
This message has been modified
Originally posted on Nov 12, 2024 at 8:43:26am
Message modified by Skeptical Optimist on Nov 12, 2024 at 8:43:53am
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Skeptical Optimist
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workindev
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Skeptical Optimist
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Aug 2, 2006
Last login
Nov 13, 2024
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84,342 (4,474 FO)
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Messages
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Time
Finance experts - let's say you buy a $1,000,000 home. Is it better to put $200K down, then immediately make a $100K
Ragnar Danneskjold
You know...
Nov 12, 8:40am
Better to put all 300k down
DirtyWater
Nov 12, 8:41am
And probably get a better interest rate.
kccougar
Nov 12, 8:41am
$300k down. Lowers the monthly pmt
TeeKaa
Nov 12, 8:41am
Yep if you want a lower payment 300k down. If you want it paid off faster 100k
johnnybyu
Nov 12, 8:44am
If your making regular pmts after the purchase, I’d calculate the pmt with 20%
TeeKaa
Nov 12, 9:15am
Don't know. TNT has never bought a $1,000,000,000 home
TNT
Nov 12, 8:42am
Are you making a $100,000 payment and then just making regular payments
ebv
Nov 12, 8:42am
If you put $200k down, your closing costs and P&I are based on an $800k loan
Skeptical Optimist
Nov 12, 8:43am
Ask the loan guy if the rate changes with the different loan amount
stoils
Nov 12, 8:50am
Hard to ignore the loan period because that drives some of the pros/cons.
garyfan
Nov 12, 8:50am
Your payment is lower with 300K down, you would pay less overall and finish
cougaman
Nov 12, 8:53am
Put $100k down and invest the other $200k in stock options.
BIG XII Coug
Nov 12, 9:16am
I'm putting it all on BYU!
Ragnar Danneskjold
Nov 12, 9:53am
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