The American dream for many is buying a home, one of the most significant and vital investments in our lifetime. Many people will need a mortgage when purchasing a home, and most mortgages, although … [Read more...]
You Don’t Need a 20% Down Payment for a Home Mortgage
Typically, mortgage lenders want borrowers to put 20% down on a home purchase, lowering lenders' lending risk. However, a 20% down payment is not a requirement. You might not have enough cash for a … [Read more...]
Buying a Home? Where will the funds for the down payment come from?
At the beginning stages of purchasing a home, you may hear your mortgage lender say the term "down payment." A down payment is a sum of money that a buyer pays in the early stages of purchasing a … [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
According to a recent study, the down payment is the biggest obstacle to buying a home. Two-thirds of U.S. renters believe that saving for a down payment is the biggest hurdle to buying a home, … [Read more...]
Is it Acceptable to Borrow Funds for the Down Payment on a Home?
Can you borrow money to use for a down payment on an FHA loan? Although this is generally not prohibited, there are a few important factors to keep in mind if you are planning to use borrowed funds … [Read more...]