Here are six things you need to know when buying your first home. Begin with Getting Ready to Borrow via a Mortgage. Your dream home may or may not be within reach today. You might be able to buy more.
Down Payment for Mortgage for First Time Home Buyer – The average first time home buyer is probably very concerned about how much money will be needed to make a down payment on a home. The amount of money needed for an adequate down payment can.
The Numbers: Purchase Price -$16,900. Their down payment was $1500, $500 saved and $1,000 from inheritance. Ron brought home $3,500 a year as a police cadet and, at $75/month for the mortgage and a few lump sum payments, they paid off their home in 15 years.