The Truths Young Homebuyers Need To Hear
For many young or first-time homebuyers, purchasing a home can feel intimidating. A recent survey shows some homebuyers ages 25 to 40 may be unsure about the homebuying process and what they can afford.
Down Payment
Do I Really Need a 20% Down Payment to Buy a Home?
Is the idea of saving for a down payment holding you back from buying a home right now? You may be eager to take advantage of today’s low mortgage rates, but the thought of needing a large down payment might make you want to pump the brakes.
Expert Insights: Why Do Lenders Require a Down Payment?
It protects them should you default on the loan, especially if you fail to make payments in the early years of the loan when more is owed on it. Foreclosure, property fix-up, and resale costs could result in a loss on the mortgage loan. That is a bad situation the lender wants to avoid. So …
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The Hidden Costs of Owning a Home
Financially, there’s more to buying a home than the purchase price—sometimes much more. After the down payment, and once your closing costs and monthly mortgage payments are added up, it can be easy to forget some of the costly and hidden costs of owning a home. Take these added charges into consideration: Property Taxes Property …
