Search results for “Down Payment”
What You Need to Know About the 20% Down Payment Myth
How Low Can You Go? Once upon a time, saving for a 20% down payment was an expected part of buying a home. However, the introduction of the FHA mortgage in the 1930s did away with this hefty savings r...
Mortgage Down Payment in 2022 - What You Need to Know
What is a Down Payment? A down payment is a percentage of the home’s purchase price that is paid in full at closing, upfront. (Hence why building up your savings is so important!) Additionally, it’s...
Get Help with Your Down Payment and Closing Costs on Your First Home
With ever-increasing apartment rental rates and student loan payments to manage, 5 in 10 millennials consider coming up with a down payment a major barrier to owning a home. And that’s before closing ...
How to Save for a Down Payment While Working in the Gig Economy
Set a Budget The very first thing any future homebuyer should do -- regardless of their career structure -- is to set a monthly budget. This enables you to determine how much you are capable of puttin...
What is the Average Down Payment for a House?
Tip #1 Reduce Debt While you save some money for a down payment, you will also need to simultaneously maintain a good credit score. This is very important because it helps your chances of being appr...
Can You Buy a House with No Money Down?
Zero Down Option #1: The USDA Home Loan What is a USDA Loan? The U.S. Department of Agriculture offers a 100% financing mortgage. The program is also technically called a Section 502 mortgage, h...
Buying a House: Learn About What Goes Into Mortgage Payments
Here’s How to Calculate Your Mortgage Payment While there are many costs associated with owning a home, let’s start with what exactly makes up a large portion of the cost – your mortgage payment. A...
Service Requirements for a VA Loan To find an in-depth explanation of the eligibility requirements for VA home loan programs, check out the U.S. Department of Veterans Affairs. You can find an abbrevi...
Tips on Home Buying with Student Loan Debt
How Do Student Loans Impact Your Finances? Your credit score is one of several factors that lenders look at when evaluating your financial profile for a mortgage. It is determined by how much debt y...