down payment: Thinking Of Gifting A Down Payment? Expect These Things To Happen.
- 07/23/18 01:50 PM
Don't gift a down payment without doing these things first! Buying a home is an expensive process, with affording the down payment definitely being the most difficult part financially. If you have a friend or family member in such a situation and you're interested in helping them out, that can make a huge difference in the home buying process.
However, unfortunately, gifting someone money for a down payment isn't quite so simple as writing them a check. There are a few other things you'll need to do to ensure that the money is able to be used for the home's down payment and … (1 comments)
down payment: Pros and Cons of Having A High Down Payment Versus A Low One
- 06/13/18 12:48 PM
Many people today are excited about the chance to purchase their own home. However, putting down 20% can be hard to swallow for many hard-working Americans. So, instead, they are turning to lower down payment options so that they can get into their own home faster.
Programs like the FHA home loan program only require 3.5% down, which makes buying a home much more accessible for people who otherwise couldn't afford it. However, this isn't the whole store.
While it may sound great to save so much money out-of-pocket, if you have the chance to even put just an extra 0.5% down on … (0 comments)
down payment: 3 Down Payment Myths You Should Stop Believing Right Now
- 05/18/18 11:18 AM
Buying a home is something most people strive for, but many are turned off very early in the process when they begin hearing that conventional loans typically require 20% down or more. For a $100,000 home (which is hard to find as it is), this would mean pulling $20,000 out of pocket just to begin the purchasing process. Not to mention closing costs and the fees associated with moving. But, does it have to be this way?
Myth #1: I Need A 20% Down Payment To Get A Mortgage Fortunately, the answer is a big fat "No!" You can buy a home without … (4 comments)
down payment: 12 ways to save for a down payment
- 04/10/18 05:05 PM
One of the hardest parts of buying a new home is having the up-front cash to put down on your purchase. While certain loan programs, like the one offered by the FHA, allow you to buy a home with just 3% down (and some special programs like VA home loans allowing as little as $0 down), saving your downpayment can sometimes be easier than for others. But, no matter how large of a down payment you need to save, finding a way to pinch your pennies isn't always that simple.
First, decide how much money you need. Most conventional home loans require … (5 comments)
Don't gift a down payment without doing these things first!
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