[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f3guie1bxwoaro":3,"$ffeh0925h8cuz":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},372,"should-i-wait-to-put-down-a-bigger-down-payment","Should I Wait to Put Down a Bigger Down Payment?","Some experts are advising that first time and move-up buyers wait until they save up 20% before they move forward with their decision to purchase a home. One of the main reasons they suggest waiting is that a buyer must \u003Ca href=\"http:\u002F\u002Fwww.investopedia.com\u002Fterms\u002Fp\u002Fprivatemortgageinsurance.asp\">purchase private mortgage\u003C\u002Fa> insurance if they have less than the 20%. That increases the monthly payment the buyer will be responsible for.\r\n\r\n","","blog","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002F01162205\u002FShould-I-Wait.jpg","Some experts are advising that first time and move-up buyers wait until they save up 20% before they move forward with their decision to purchase a home. One of the main reasons they suggest waiting is that a buyer must \u003Ca href=\"http:\u002F\u002Fwww.investopedia.com\u002Fterms\u002Fp\u002Fprivatemortgageinsurance.asp\">purchase private mortgage\u003C\u002Fa> insurance if they have less than the 20%. That increases the monthly payment the buyer will be responsible for.\r\n\r\n\u003C!--more-->\r\nIn a recent \u003Ca href=\"http:\u002F\u002Fmyhome.freddiemac.com\u002Fbuy\u002Fdown-payments-closing-costs.html\">article\u003C\u002Fa>, \u003Cem>Freddie Mac\u003C\u002Fem> explained what this would mean for a $200,000 house:\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FDifference-in-Percentage-and-20.jpg\">\u003Cimg class=\"alignnone wp-image-31699\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FDifference-in-Percentage-and-20.jpg\" alt=\"Difference Between 5% and 20% Down Payment | Simplifying The Market\" width=\"650\" height=\"423\" \u002F>\u003C\u002Fa>\r\n\r\n \r\n\r\nHowever, we must look at other aspects of the purchase to see if it truly makes sense to wait.\r\n\u003Ch3>\u003Cstrong>Are you actually saving money by waiting?\u003C\u002Fstrong>\u003C\u002Fh3>\r\n\u003Cem>CoreLogic\u003C\u002Fem> has recently projected that home values will increase by 4.3% over the next 12 months. Let’s compare the extra cost of PMI against the projected appreciation:\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FPMI-vs-Appreciation.jpg\">\u003Cimg class=\"alignnone wp-image-31700\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FPMI-vs-Appreciation.jpg\" alt=\"PMI vs Appreciation | Simplifying The Market\" width=\"650\" height=\"258\" \u002F>\u003C\u002Fa>\r\n\r\n \r\n\r\nIf you decide to wait until you have saved up a 20% down payment, the money you would have saved by avoiding the PMI payment could be surpassed by the additional price you eventually pay for the home. Prices are \u003Ca href=\"\u002F2015\u002F05\u002F27\u002Fhomeownership-as-an-investment-the-role-of-price-appreciation\u002F\">expected to increase\u003C\u002Fa> by more than 3% each of the next five years.\r\n\r\nSaving will also be more difficult if you are renting, as rents are also projected to increase over the next several years. \u003Cem>Zillow\u003C\u002Fem> Chief Economist Dr. Svenja Gudell explained in a recent report:\r\n\u003Cblockquote>\u003Cem>\"Our research found that unaffordable rents are making it hard for people to save for a down payment ... There are good reasons to rent temporarily – when you move to a new city, for example – but from an affordability perspective, rents are crazy right now. If you can possibly come up with a down payment, then it's a good time to buy a home and start putting your money toward a mortgage.\"\u003C\u002Fem>\u003C\u002Fblockquote>\r\nLaura Kusisto of the \u003Cem>Wall Street Journal\u003C\u002Fem> recently \u003Ca href=\"http:\u002F\u002Fblogs.wsj.com\u002Feconomics\u002F2015\u002F08\u002F13\u002Frenters-spent-a-record-high-share-of-income-on-rent-this-spring\u002F\">agreed\u003C\u002Fa> with Dr. Gudell:\r\n\u003Cblockquote>\u003Cem>“For some renters there may be a way out: Buy a house. Mortgages remain very affordable.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch3>\u003Cstrong>Mortgage rates are expected to rise…\u003C\u002Fstrong>\u003C\u002Fh3>\r\n\u003Cem>Freddie Mac\u003C\u002Fem> is projecting that mortgage interest rates will \u003Ca href=\"\u002F2015\u002F08\u002F10\u002Fwhere-are-mortgage-rates-headed-this-fall-next-year\u002F\">increase\u003C\u002Fa> by almost a full percentage point over the next 12 months. That will also impact your mortgage payment if you wait.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nLet's get together and discuss whether you should buy now or wait until you save the 20%.","\r\nLet's get together and discuss whether you should buy now or wait until you save the 20%.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FDifference-in-Percentage-and-20.jpg",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},9,"Home Prices","home-prices",{"id":26,"name":27,"slug":28},35,"Mortgage Rates","mortgage-rates","2015-08-26T10:00:14Z","2015-09-04T11:00:39Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},371,"dont-get-caught-in-the-renters-trap-three","Don't Get Caught In The Renter's Trap","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002F01162200\u002FDont-Get-Trapped.jpg","2015-08-25T10:00:55Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},373,"52-likely-to-buy-in-the-next-5-years-are-you","52% Likely to Buy in the Next 5 Years!! Are You?","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002F01162202\u002FLikely-to-Buy.jpg","2015-08-27T10:00:36Z",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[48,52,53,57,61,65,66,70,74,75,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":54,"name":55,"slug":56},6,"For Sellers","sellers",{"id":58,"name":59,"slug":60},7,"Foreclosures","foreclosures",{"id":62,"name":63,"slug":64},8,"Infographics","infographics",{"id":22,"name":23,"slug":24},{"id":67,"name":68,"slug":69},11,"First-Time Buyers","first-time-buyers",{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":26,"name":27,"slug":28},{"id":76,"name":77,"slug":78},38,"Move-Up","move-up",{"id":80,"name":81,"slug":82},41,"For Sale by Owner","for-sale-by-owner",{"id":84,"name":85,"slug":86},42,"Featured","featured",{"id":88,"name":89,"slug":90},45,"New Construction","new-construction",{"id":92,"name":93,"slug":94},52,"Luxury \u002F Vacation","luxury--vacation",{"id":96,"name":97,"slug":98},53,"Rent vs. Buy","rent-vs-buy",{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]