Unlike the pre-Recession era, it’s actually getting easier nowadays to get a mortgage with little to no down payment. Typically, a conventional home loan would require you to put down at least 20 percent in down payment. But programs such as USDA and VA loans, or the recently rolled out MAP by Read more
The Complex World of Down payments, Decoded
A survey by Genworth Mortgage Insurance found out that homeownership apprehension is greatly caused by down payment misconception. Many believe that the 20 percent down is an absolute when getting a loan. The 20 percent down isn’t mandatory, but why does it exist? Let’s take it back a few decades Read more
American Millennials are Becoming Homeowners
In HSBC’s Generation Buy study, 35 percent of American millennials own their homes. Those who are not homeowners yet but are planning to buy a house in the next five years are at 80 percent.The study examined nine countries in different continents, including China, the United Kingdom, and the Read more
401k Hardship Withdrawal for Home Purchase
A large down payment is what makes a home purchase possible for many people. Lenders like to see at least 20% down on a home. This helps make the loan less risky for the lender. The more money you have invested in the property, the more likely you are to make your payments. What happens if you Read more
Renters Cite Downpayment as No. 1 Hurdle to Homeownership
It’s not just finding a home that poses a problem for some would-be homeowners. Saving for a downpayment is a top hurdle to owning a home and thus living the American Dream for a majority of renters surveyed by Zillow.Get matched with a lender!» A Shared Concern The first-ever Zillow Housing Read more
