The desire for 10% down comes from maybe being able to do it this fall instead of three years from now--financially it might not make sense, but extra time with family is priceless.

I had large payments on my personal loans due and extra money going out to finish the project, not ideal.

As you know bedrooms are worth more to appraisers than an extra living room.

@Mike Sfera, a few things about putting EXTRA money down on a property:1.

That is assuming your DTI can cover the increased mortgage payment.If you have use for that extra $100k that you would get back right now then don’t wait.

Maybe they want bigger lot, more land, extra lots. 

According to the pictures it looks like extra trashy place.

Want extra help?

As I understood that allowed me to have an extra layer of liability protection. 

(Give that to sellers, they picket $100k after paying off the loan.) and then pay them 4.5% interest (what they could get from the bank.) now you’re talking $750/yr extra interest, and it’s being paid to family.