- Posted by Brenda Mcintyre
- On July 11, 2018
- 0 Comments
You don’t need to save 20 percent of a home’s value for a down payment. Yes, it could lead to a cheaper mortgage payment or lower interest rate but there are tons of first-time programs that can make homeownership more affordable. No matter how large a down payment you make, consider buying when:
- You plan to live in the same place for five years or more.
- You won’t deplete your savings for the down payment and closing costs.
- Your credit score is in good shape, ideally 720 or higher.
When the time comes to buy, know there’s help available.