What is the preferred down payment for a house? Is it better to put less if i can get a loan or is it advised to put 20% in this economy?

The choice is yours based on your goals. You can put as little as 3.5% down with an FHA loan.

If you put less than 20% down, you will have to pay mortgage insurance. Other than that, it is certainly up to you. adennie@fmbranch.com

It depends on your goals and circumstances. With rates as low as they are, personally, I believe in keeping your liquid assets and making them work for you in other ways. If nothing else, you should at least keep 6-8 months reserves (ongoing obligation payments) in the bank for a "rainy day," especially in this economy. I hate to see people put all their savings into a down payment for a house and then not be able to make their payment if something happens a few months down the road.

I would suggest putting less down if it fits into your goals. With rates at historic lows my thoughts are to take advantage of leveraging your money. Depending on your circumstances, it could possibly be better to pay off debt or contribute to an IRA to offset taxes. Every case is unique so I would suggest you speak with a mortgage professional that discusses your long term goals and designs a loan for you.

It would be your preference, along with the minimum down payment required for your loan amount, property type and location. Minimums on a single family owner occupied:FHA 3.5%Conforming 5%Super Conforming 10%Jumbo to $2MM 20%We will probably see another downward trend to residential property. But, anything less than 20% down on 30 F will need Mortgage Insurance. FHA requires MI on all 30F loans regardless of how big of a down payment. .... Happy funding, Rudi

With the rates that are available today, the Minimum down is the better choice...Try an obtain the FHA Mortgage...Ron856-853-1234e/m Money@RonWohlfarth.comweb www.WoodburyMoney.com