15k down payment is it possible ?

[Kriskros Ruta]

What are the pros and cons of putting only about 15k as a down payment for a house

[Corey Stubbs]

Hi Kriskros Ruta,

There's a lot more questions that come along with this single question.  

What kind of deal is it? What kind of loan are you using? Are you paying interest only payments or both principle and interest?  Do you plan on fixing the property?  Are you trying to rent it out?  Can you carry the deal while trying to flip it?  Can you carry the deal while trying to rent it?  There are a LOT of scenarios and questions that can be coming out of this simple question.

Ultimately, the more you put down as a down payment on a property the more options you have for loans, lower carrying costs, typically better interest rates, but have less in your reserves.  By not putting more down on the down payment the more you'll have in reserves but the higher carrying costs, less options for loans, and typically less desirable interest rates.  

I highly recommend that if you're asking questions like this that you start in the Education tab not forums so that you can learn the simple practices first then use forums to discuss those practices further.

Good luck!