15 Mar 2018
By Mark Feder

What Are The Benefits And Drawbacks Of Putting 20 Percent Down On A Home Purchase?

Mortgage
Several generations ago, lenders required home buyers to have a 20 percent down payment in order to get a mortgage. While there were a few options out there for people who couldn't save this substantial amount, the reality was that for the majority of people, the 20 percent down was a requirement. It was the way to show that you were financially responsible enough for homeownership. And it was a strong way that the banks felt secure in making a home loan. Today, however, homebuyers have many options available to them as they shop for a new home, and those…
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19 Feb 2016
By Mark Feder

Eliminate These 5 Barriers To Saving For Your Down Payment This Month!

Mortgage Tips
With all the expenses that go into monthly living and the temptations that come along with life, saving money for the down payment on your new home can be quite a struggle for many people. If you're having a hard time saving and are wondering what you can do to ensure a higher bank balance next month, here are a few things that may pose a risk to getting the home of your dreams. Forgetting To Take Lunch One of the things most likely to defeat your bank balance is the daily office trip to the deli or diner. Instead…
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22 Feb 2013
By Mark Feder

Will You Need Private Mortgage Insurance on Your Mortgage Loan?

Mortgage Guidelines
  Have you heard the term Private Mortgage Insurance (PMI) when looking to finance real estate? You may be wondering what PMI is and how you know when you need to purchase it. These answers can be hard to find among all the real estate jargon you might be hearing lately. Below is the short version of what you need to know. What is Private Mortgage Insurance? Private Mortgage Insurance is an insurance premium required by some lenders to offset the risk of a borrower defaulting on their home loan. When you put down less than 20 percent of the…
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