DOWN PAYMENT TO BUY A HOUSE

The down payment to buy a house is a percentage of the total purchase price that you generally pay up front. It is typically a substantial amount of money and can range from three percent to twenty percent of the home price. The exact amount will depend on various factors, including the type of mortgage you choose and your financial situation. A larger down payment can help you secure a lower interest rate and reduce your monthly mortgage payments. The purpose of a down payment reduces the loan amount  and the amount of money you need to borrow from a lender to purchase a home. This means you will have a smaller loan balance. By putting a substantial down payment, you demonstrate your financial stability and commitment to the investment, which can increase your chances of being approved for a mortgage.

By making a larger down payment can often lead to a lower interest rate, In the eyes of a lender, they see borrowers with a larger down payments  as less risky, which can result in a more favorable loan terms including a lower interest rate. This can save you money over the life of the loan.

If your down payment is less than twenty percent , you will be require to pay private mortgage insurance. This protects the lender in case you default on the loan, By making a larger down payment you can potentially avoid this additional cost of private mortgage insurance. Click link to learn more about private mortgage insurance /PRIVATE-MORTGAGE-INSURANCE---32819---32836---Dr--Phillips-6-26286.html

EQUITY AND HOMEOWNERSHIP 

Making a down payment immediately gives you equity in the property. Equity represents tje portion of the home that you own outright. As you make mortgage payments over time, your equity in the process increases, allowing you to build wealth and potentially access additional funds through home equity loans or lines of credit. Overall, a down payment is a crucial component of buying a house as it helps you secure financing, reduces your loan amount and can lead to more favorable terms. It also provides immediate equity and ownership in the property, helping you build wealth over time. Check with you trusted advisor or lender to guide you in the right direction. Click link to learn more about mortgage lenders /MORTGAGE-LENDERS---32819---32836---Dr--Phillips-6-20247.html

TRUSTED ADVISOR

As a trusted advisor, professional realtor and retired military veteran, I am here to serve you in the Dr. Phillips and Central Florida housing market for the sale or purchase of your home. In the absence of trustworthy and up to date information whether it is a housing crisis or local housing market, real estate decisions are increasingly driven by fear, doubt and uncertainty. We as trusted advisors drive the real estate community to ensure you are making the right decision.

Part of my job is to keep you informed and educated about the local housing market trends, pricing inventory level, buying information on the buying and selling process to include common terms and videos. It is important to keep up with the housing market trends, don't get confused with the media, they talk national level, I can provide you the most up to date local area data.

So don't let this shifting housing market delay your dreams, data reveals home values typically appreciate over time and that gives your net worth a nice boost. When you are looking for a home, look for your realtor with the heart of a teacher. If you are ready to start your journey today, contact Kevin Strawter at 850 496-6412 to begin a new walk to homeownership and all your real estate needs. Referrals always welcomed.