If you’ve been perusing the real estate market with the hope of purchasing a home, you may be aware that the often-touted amount you should put down is 20 percent. However, there are both good and bad things involved in investing so much money into your new home.
3 Common Mistakes That First-time Mortgage Borrowers Make and How to Easily Avoid Them
Deciding to purchase a home will be one of the biggest investment decisions you’ll make in your life, but it can be confusing for the first-time home buyer to know all the ins and outs of buying a home. If you’re wondering what things first-time buyers often forget about before purchasing a home, here are three important things that you’ll want to keep in mind.
Understanding Appraisals and What to Do If Your Home Doesn’t Appraise for Its Purchase Price
It can be a bit of a surprise if your home turns out to be valued at less than the purchase price offered, but this is the type of thing that can occur in an appraisal situation. While this can change everything from your contract to the amount of your down payment, if your home has been appraised at less than you envisioned, here are some options you may want to consider.
Investing in a Vacation Property? Learn What You’ll Need to Have to Get A Mortgage Approved
While a second home can seem like a great purchase and solid investment opportunity, there are different requirements that go into this type of purchase. If you’re considering a vacation home, you may want to be aware of the following financial factors.
Mortgage Myths: Here’s Why You Don’t Need a Full 20 Percent Down Payment
If you’re just getting into the real estate market, you may have heard that 20% down is the ideal percentage in order to lower your monthly payments and get your mortgage application approved. However, while 20% is often suggested, many people struggle to come up with this amount of money.
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