Originally Posted by Old Pa
You can put down anything you want to, but as long as you have a large mortgage, even if you could pay it off completely from other assets, then you have debt. As stated before, this is not about net worth.
Wow, congrats Old Pa and Ken36! It's not an easy feat to fully payoff the house you live in.
I'm in a similar situation to VicAjax in that while I have a mortgage on my place, I have the cash in the bank to pay it off but don't currently. For me personally I think of my current mortgage as an asset, since I locked in a 30-year fixed for 5.0% back in mid-2003. Right now I can put my money in bank CDs and make more than 5.0%, so it makes more sense to have the cash and not pay off the debt.