Quote:
Originally Posted by Youlath
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what kind of house deposit
are you thinking of 20% down to avoid pmi
if so what the fuck kind of house are you buying for 50k
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Only need minimum 10k deposit + savings for a house that isn't going to auction here in Australia. You do however get hit by insurance if deposit is less than 20% of the value of the home. Of course factors like: buying a 800k home with a 10k deposit is only going to work if you have 100k in savings. We're talking entry to mid range homes.
I put 16k down as a deposit for my place and still got hit by 4k insurance but at the time Australia was giving first home buyers 7k so that 7k paid for fee's/mortgage insurance.