My apologies for asking a question about a topic that has been likely discussed a multitude of times in the past, but exactly how important is a down payment for a housing loan?
I'm a Japanese citizen with a salary of around 4.5 million. No debt, never married, and a permanent employee of my current company. I have been employed there for only one year so far, unfortunately, but I don't plan to change jobs again.
I could swing maybe 1.5 – 2 million on a down payment at the moment. Should I give up on buying or building a home until I have more for a down payment?
Any advice is appreciated. Thank you!
EDIT: I would like to clarify that my long-term goal is to purchase land and build a home, if possible.
by newfakestarrysky