We make good incomes and just had our offer accepted on a $1.5 million home - how much money should we put down?

A Reddit user with a net worth of $2.2 million and a household income projected at $650,000 is contemplating how much to put down on a $1.5 million home. While he's well-positioned financially, he is considering the advantage of making a 20% down payment, which would allow him to avoid private mortgage insurance (PMI) and provide him with enough equity in the house. This decision is crucial for maximizing his financial opportunities while maintaining his liquid savings.

A 20% down payment on a $1.5 million home not only avoids PMI but also allows the homeowner to retain substantial liquidity for other investments.

With a net worth of $2.2 million and a solid income of $650,000 projected, the Reddit user is in a strong position to make a sizeable down payment.

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