Down Payments

If you're in the market for a house and are wondering how your income will stack up against the rest of your expenses, here's how to determine a home cost that's reasonable for you.

Traditionally, getting a mortgage requires you to have a level of income appropriate to the size of home that you're buying. But for a lot of low-income and minority borrowers, a simple measure of one person's income isn't an accurate measure of whether or not that person can afford a home.

If you're planning to buy a home in the near future, you're probably already in the process of saving up for a down payment. But if you haven't seen a mortgage advisor or started looking at properties yet, you probably don't have a good idea of what a down payment will cost you.

A new house is a major investment. Even if you have a mortgage, the bank and the seller will still expect a sizable down payment. That's why lots of people regularly gift down payments to friends and relatives - it's a great way to help young people start out on the path of home ownership.

If you’re looking for a new home, you’ve probably heard lots of advice about down payments. About how it’s okay to just have a five percent down payment – you’ll still get approved. About how you should make the down payment as small as possible to avoid cash flow problems. Here are just four reasons why you should make the largest down payment possible.

One of the most significant challenges that many people face when preparing to buy a first home relates to saving money for a down payment. While there are many different loan programs with varying down payment requirements, the fact is that it can still be difficult to save up a large sum of money.

One of the most common questions home buyers ask today relates to how much money they need to put down on a home. There are several points to consider to determine if making a larger down payment is right for your financial situation.