Mortgage , ,

A 20 Percent Down Payment: Is This Really Necessary?

Purchasing a home is a major decision, and it could be the most expensive financial transaction somebody ever makes. Therefore, it is important to get this right. One of the biggest hurdles for a new homeowner is coming up with enough money for the down payment. A lot of people believe they require 20 percent down to purchase a home. Saving this amount of money can be overwhelming, and some people are wondering, is this really necessary? There are several key points to keep in mind.  Putting 20 Percent Down Is Not Really Necessary When taking a look at the…
Read More
Mortgage , ,

Financial Preparation: Millennials Are Getting Ready To Buy Homes

In the current economy, there are a lot of millennials who are thinking about buying a home; however, the price of homes is rising quickly. It can be challenging for millennials to save the money they need to buy a home. When this is combined with other monthly expenses they have, millennials might be financially unprepared to buy a home. Finding the right house takes patience and discipline, so millennials need to avoid jumping in unprepared. What do millennials need to do to make sure they are ready for the expenses that come with owning a home? Be Aware Of How…
Read More
Mortgage , ,

Down Payment Assistance Programs May Make Homeownership More Affordable

There are many people who are currently looking to purchase a home while interest rates are relatively low; however, there are many homeowners who feel like they do not have a strong level of financial understanding when it comes to the process of purchasing a home. If homeowners don’t have the financial knowledge base to effectively evaluate their options, they might have trouble figuring out what they can truly afford. For example, how much money do homeowners need to save for a down payment? There are a lot of down payment assistance programs available at local, state, and regional levels.…
Read More