Hello Everyone! First off, let me say thank you for taking the time to check out my blog. It really means a lot to me especially since I know how busy most of you are. But today I wanted to post a video on a frequently asked question I get, which is, "How much money do I need for a Downpayment in order to purchase a home. Most people are under the impression that the only way to get a mortgage is if you put 20% down, which is not the case. This misconception causes many qualified buyers to not realize their actual buying potential. The example I use in my video is a 2BR/2BA Condo in Schaumburg with a 1 car garage that is listed at $125,000. Now 20% down on that would be $25,000, which is a lot of money for anyone and can cause potential qualified buyers to think that they are not qualified. But do not worry qualified buyers becuase there are other options available for you, check out the video to find out more:
I hope this video helps, and if you have any questions regarding home buying or mortgage loans please contact me at anytime. You can reach me via our website at www.cornerstonerealtychicago.com or on my phone at 847-496-0081. Thanks for watching and have a great day!