How to invest the downpayment while you are accumulating it, till the time that you are ready to purchase the home. As with many others investing decisions, how to invest the money that you are saving for the down payment on your home loan depends on how soon you expect to need the money. Not […]
It can be difficult in most circumstances to save money for 20% down payment in order to buy a home. By now you know that in order to avoid private mortgage insurance and to get good loan terms on your mortgage loan, you need to make at least 20% down payment of the purchase price […]
Before you set your heart on a home to buy, you should be acutely aware of the downpayment requirements and if you have enough. Not having the right amount of downpayment can quickly add to the cost of purchasing the home with additional charges, penalty fees, compulsory insurance and a higher interest rate. All this […]
One of the best and most available tax write off method is the funding retirement savings plan. Money that you contribute to an employer-based retirement plan such as a 401K auto 403B or a self-employed SEP-IRA or a Keogh plan is generally tax deductible.This saves you both federal and state income taxes in the year […]
Gone are the days when mortgage lenders approved loans for the full buying price. Even subprime lenders dealing with borrowers with poor credit rating were willing to take these risks. However, downpayment is almost always necessary now, although the amount may vary. 20% downpayment is considered to be the magic figure because it helps you […]