[Alyssa]

My fiance and I are looking to buy our first home and are trying to learn as much as possible before going into an office and talking rates. My parents have purchased several homes and when I spoke with them, they told me NOT to put any money down, because you can lose all of it if something happens and you have to sell or the home loses value. For example, they put 30% down on a home in Southern California area. When they went to sell, the housing price had decreased dramatically and they ended up losing all of that down payment AND more. They had to pay off the rest of their mortgage on a house they didn't even own anymore. They told me I should try to put as LITTLE down as possible, and they did this with their newest home.Is this right? I know that this might hurt my rates, but I also want to avoid a situation like they had.Again, I am new to ALL of this so please forgive me if this is a bad question! I just thought I would see if anyone else knew about this?THanks!