
The Down-Low on Down Payments
While a 20 percent down payment is considered ideal, it’s not actually as common as you might think, nor is it a necessity to buying a home.
While a 20 percent down payment is considered ideal, it’s not actually as common as you might think, nor is it a necessity to buying a home.
One of the biggest hurdles aspiring home buyers face is saving enough for a down payment, but you may be closer than you think. Let’s set the record straight and separate fact from fiction on some common down payment myths!
Not everyone can afford the standard 20% down payment when buying a home which means they need private mortgage insurance or PMI. So what exactly is private mortgage insurance, and how does it affect your home loan?
While a 20 percent down payment is considered ideal, it’s not actually as common as you might think, nor is it a necessity to buying a home.
Whether you are currently looking to make the leap from renting into owning a house or planning to purchase in the next few years, it’s important to strategically save up for the down payment. While coming up with a down payment might seem daunting, it doesn’t have to be. Here are four tips you can follow to save up for your future down payment!
ALCOVA Mortgage LLC | NMLS#40508 | (www.nmlsconsumeraccess.org)
Licensed in AL, AR, CO, DC, FL, GA, IN, KY, MD, NC, OH, PA, SC, TN, TX, VA, WV |
308 Market St SE, Roanoke, VA 24011
ALCOVA Mortgage LLC | NMLS#40508 | (www.nmlsconsumeraccess.org)
Licensed in AL, AR, CO, DC, FL, GA, IN, KY, MD, NC, OH, PA, SC, TN, TX, VA, WV |
308 Market St SE, Roanoke, VA 24011