The American dream for many of us is buying a home, which may be the most significant purchase and important investment in our life. When buying a home, most of us will need to get a mortgage, so … [Read more...]
Down Payment Options to Buy a Home
Making the down payment to buy a home is one of the most difficult things for most homebuyers. Fortunately, though, there are low down payment options and even zero down payment options for many … [Read more...]
Low Down Payment Mortgages Allowing Buyers to Purchase a Home Years Sooner
A new study by Zillow found that it takes 11 years for a single homebuyer to save for a 20% down payment, which is 6 years longer than it takes a couple. The good news is that many homebuyers qualify … [Read more...]
Down Payment is #1 Obstacle for Homebuyers in 2017
The down payment is the biggest obstacle to buying a home, according to a recent study by Svenja Gudell, Chief Economist at Zillow. As a matter of fact, two-thirds of U.S. renters believe that saving … [Read more...]
5 Tips to Save Money for a Mortgage Down Payment
Although there are mortgages that don't require a down payment, most people qualifying for a home loan will need to make a down payment that typically ranges from 3.5% to 20%. As a result, … [Read more...]
Is it Acceptable to Borrow Funds for the Down Payment on a Home?
A question that came up recently with one of our borrowers was whether she could borrower money to use for the down payment on an FHA loan. Although this is generally not prohibited, there are a few … [Read more...]
You Don’t Need a 20% Down Payment for a Home Mortgage
You might not have enough cash for a 20% down payment on a home loan. Or, you might not want to liquidate your assets, or use all your cash, for a down payment. If you qualify for a home mortgage, … [Read more...]
Buying a Home? Where will the funds for the down payment come from?
If you are getting pre-approved to buy a home and the lender does not ask you specific questions about the source of the funds you plan to use for closing costs and the down payment, they may be … [Read more...]
