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For our first home, we worked and saved 5% of the purchase price, and were able to get a mortgage with that. For our second home, we had saved enough to put the standard 20% down, but because we were buying the house jointly with Eric's grandparents so that we can take care of them, they kicked in the same amount, giving us a lot of equity.

I never quite understand it (I'm not criticizing, just curious) when people say they can't afford to buy a house. If you buy in the right place and use the right program, you can put very little (occasionally nothing) down and have mortgage payments that are similar to rent.

Sharon
 

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I went to college at 18 and stayed there, since after the BA, they paid me to go for the MA and Ph.D - not much, but enough. But if I do the math and consider investing the cost of even a cheap college education starting at 18, I could have gotten my land and house a heck of a lot sooner - it isn't always the best way, although it certainly can be.

Sharon
 
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