If you’re receiving a down payment gift for the purchase of your next home, you’re not alone; many U.S. home buyers do it. Gifts for down payment can come from parents, grandparents, siblings, children, or even spouses on a variety of loan programs including FHA, VA, USDA, conventional, and jumbo loans. But you need to make sure that ...
If you have found yourself renting for several years, it may be time to look at the bigger picture and realize that you could be paying your own mortgage by now instead of your landlords. Over half of the millennial generation feel that finances are the biggest obstacle of homeownership. However, the most common misconception ...
When you’re in the market for a new home and start searching through the listings online, you will often see a mortgage payment estimate by the purchase price. While this number can be helpful to get an idea of how much house you can afford, it’s important to understand that that number does not truly ...
Figuring out how much of a down payment to make when buying a home can be difficult. It also makes a big difference in how much your home will cost you in the long run including mortgage payments. If you can afford to make a large down payment, should you do it? See the reasons ...
Traditionally homebuyers were asked to put twenty percent down in order to purchase a home. Nowadays there are many more options for homebuyers that require low down payments, anywhere from 5% down all the way down to $0 down. The drawback of not having a twenty percent down payment is the required mortgage insurance that ...
