When putting a downpayment on a new home purchase, there are pros and cons. PRO - putting down a higher payment means you can earn equity more quickly and the lower the monthly mortgage payment. CON - what happens if you cannot afford home maintenance?
If you have the financial stability to put down a higher amount, by all means, go for it! That's great!
If you don't... here is where it gets a little tricky. You want to put down just enough to get your monthly mortgage payment in a good spot, and still have enough money saved to not be "house poor".
House poor is a loose term that pretty much means that you spent over what you could afford to have this home, but then cannot LIVE in the house and get stuck eating Ramon noodles like you did back in college.
Need some more info? Yes! Yes, you do!
Matthew and Brooke Schnitker