Hi everyone, my wife and I recently graduated university 2 years ago and both work in tech. We live in a medium COL area (DFW). We are blessed to have a joint income of shy over 300k w2. We paid off 70k in debt and have 60k cash. My mentor told me that the first thing I should do to build wealth is to purchase a home with as little cash down possible due to low interest rates.
I’m thinking we can either do a conventional 20% down on a 400k home for roughly a 3.1% apr or FHA 3.5% down on a 400k home for roughly 3.5% apr. What are your thoughts on this? Should we buy a home asap? 20% or 3.5% down? We want to stay in DFW due to family and friends plus we were both born and raised here. Thank you!