August 2018

Found 2 blog entries for August 2018.

You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders.

But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available.

THE DOWNSIDE

The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance for years, and the lower your down payment, the more you’ll pay. You’ll also be offered a lesser loan amount than borrowers who have a 20-percent down payment,

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Selling your home can be an overwhelming process.  Here are 6 tips to help you get organized and prepared for the process.

Meet with your trusted real estate agent: Your agent can save you a lot of time and energy by guiding you through the pre-listing phase. They are there to serve you and help you decide if listing your home is the right option.

Pre-qualify to buy your new home: Get pre-qualified to buy your next home before putting your current one on the market. Working with a reputable mortgage professional will help you understand what you need to net from your current home and achieve your goals for your next one.

Price correctly: Listing your home at the proper market value is critical to selling your home within a reasonable time

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