When It's Important...Find the Facts
Posted by Mary Cox on
Most parents don’t put a lot of credence in the statements “Everyone is doing it” and “No one does that anymore.” They’ll dig a little deeper and get the facts of the situation. Interestingly, when it comes to buying a home, similar common myths continue to prevail surrounding what it takes to buy a home.
One of the most common myths is that it takes 20% down payment to get into a home. Certainly, an 80% mortgage might have the most favorable interest rate. It won’t require mortgage insurance and qualifying requirements might be a little less but there are alternatives.
“88% of all buyers financed their homes last year and consistent with previous years, younger buyers were more likely to finance their home purchase. In 2018, the median down…
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