Everybody says you should put as much money down as possible when buying a home. But is that actually smart?
In this Mythbuster Monday episode of Home Buying Made Easy, Michael Dendy and Rachel Dendy break down one of the biggest mortgage myths out there: “A bigger down payment is always better.”
Sometimes putting more money down helps. Sometimes it doesn’t. And in some situations, draining your savings to lower your mortgage payment can actually put you in a WORSE financial position.
Michael explains:
• When a larger down payment actually makes sense
• Why keeping cash reserves can sometimes be smarter
• The truth about PMI and low down payment loans
• How VA and USDA buyers often buy with little or no money down
• The hidden risks of being “house broke” after closing
If you’ve been waiting years trying to save a massive down payment before buying a home, this episode may completely change your strategy.
🎙️ New episodes every Monday & Friday.
📲 Follow us on Instagram for more mortgage myths and home buying tips.
📞 Call or Text: 615-499-6335
📧 michael@dendyteam.com
🌐 MichaelDendy.com
Leave a Reply