Not only is putting 20 percent down to purchase a home not required, it is often times not recommended. In today’s mortgage market, the price of mortgage money, the amount that a payment will cost compared to the loan amount is quite cheap. So one might consider putting down less money to purchase a home and have more money for rainy day funds, with putting down as little as no money to sometimes five percent. Ask us how.
- First-time homebuyer mistakes can leave you with a difficult financial situation
- Start with finding a trustworthy real estate agent
Shopping for your first home? That’s fantastic! No doubt you’ve already thought about what your dream home will include and scouted out some neighborhoods and school districts.
But it’s important to remember that finding the perfect home is about more than curb appeal and modern features. And while there’s plenty of advice out there on what to do during the home buying process, there are some common first-time homebuyer mistakes that can trip you up along the way. Here is a quick rundown of what not to do. Continue reading