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by Derf on July 30th, 2010
Generally you want to be able to pay 20% down. In years past you couldn't even get a mortgage without a sizeable down payment but over the past 20 years or so banks started giving loans out to anyone. Over the past two years banks have become much more conservative in their lending practices but one can usually get a loan as long as the amount is reasonable in relationship to their income and other debt. With a good credit rating, you can get a loan with less than 20% down but will have to pay PMI (mortgage insurance).
by linda.brown on February 25th, 2011
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by Abbra gone Underground on July 30th, 2010
That depends on several things. The lender, i.e. the bank will want to know how secure their loan is, how old you are, over how many years you will want the loan to run, what your income is, what the value and location of the property is, and it also depends to some extent on the state of the economy, then they will decide.
The best you can do is to ask them.
by aiar on July 30th, 2010
about 5%
Do you like living in a place where you live, or are you planning to move? And why?
by Alexmercury on December 26th, 2010
| 2 people like this
My bf and I are buying a house. Should we get a contract to protect our interests? Or does it not matter since we're going into it 50/50?
by samanthaa528 on August 25th, 2010
| 1 person likes this
I'm considering buying an old home with lead based paint. Is it worth the concern especially if we already know it needs renovation?
by Jupitergirl on May 31st, 2010
| 1 person likes this
Is it a good idea to buy a mobile home?
by angel1000 on December 15th, 2010
| 1 person likes this
I am looking for overseas property investment, where and when is a good time?
by beenakaur on July 29th, 2011
| 1 person likes this
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