Let's Talk About a Down Payment

For most first time home buyers, the down payment is the biggest barrier between turning a home buying dream into reality.

In today's market place, most home buyers will be required to put down 20% of a home's purchase price. While that may seem like a big barrier, you should keep in mind that:

• Banks are going to require it – qualifying for a mortgage will be much easier if you can meet the 20% threshold.
• The more you put down on a house, the smaller your monthly payment will be.
• Your interest rate will usually be lower
• You don't want to overbuy – stretching your borrowing limits to buy more is never a good idea. Instead, you should buy the home that's a good fit for your current financial situation and lifestyle.

If you're interested in learning more standard home financing and what options you may have, please give me a call today. Together we can figure out a way to make your dream of homeownership a reality.