Down Payment Options When Buying a Home | Spyglass Realty
Posted by Ryan Rodenbeck on
Being a homeowner has many benefits. Homeowners can decorate as they wish, own pets without a hassle, gain a tax deduction, and begin to build wealth as they pay off their mortgage and the home increases in value. For many people, however, coming up with a down payment is a significant hurdle. The hurdle, however, can be overcome. Here are some down payment options that can help homebuyers get the keys to their new purchase.
For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.
Zero and Low-Down-Payment Loans
Some loans require no down payment or minimal down payments. Examples include:
- VA loans, backed by the U.S. Department of Veteran's…
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Buying a home is an exciting time, but it can be overwhelming, especially for first-time buyers who have decided to stop renting. The mortgage process involves many steps, including pre-qualification and preapproval. Not to mention, there are several different mortgage options offered by lenders. Before starting the house-hunting process, it's important to understand how mortgage options work and what types of loans are available. Here's a broad overview of mortgage options to get you started.
Once an individual buys a home, their tax circumstances can dramatically change. With homeownership comes property taxes, school taxes (if applicable), and capital gains taxes when the property is sold. The latter tax should be planned for long before a property goes on the real estate market. Not familiar with capital gains tax? Here's a rundown of what all homeowners should know.
