There are mortgage options now available that only require a down payment of 5% or less of the purchase price. You’ll see some pictures in this video to help you remember later – the larger the down payment, the less you have to borrow and the more equity you’ll have.
Mortgages with less than a 20% down payment generally require a mortgage insurance policy to secure the loan.
When considering the size of your down payment consider that you’ll also need money for closing costs moving expenses, and – possibly – repairs and decorating.
Latest posts by TitleTap (see all)
- A guide to building + marketing your solo law firm website - November 19, 2020
- TitleTap’s New and Improved Net Sheet Rate Calculator Can Help You Close More Real Estate Faster! - November 18, 2020
- How to land more clients as a solo attorney - November 4, 2020