Financial Resources Blog

Let's Keep it Local!

Blog

Does a Zero Down Payment Seem Tempting? It's Usually Too Good To Be True

If you’re thinking about buying a home, you may have heard or seen advertisements for zero down payment loans. Lenders will sometimes use low or zero down payment as a teaser in advertisements to lure mortgage shoppers and begin a conversation. In reality, most people won't qualify for a zero down payment mortgage and for those who can qualify;...

What is PMI & What You Should Know

Although the decision to own your home is exciting, it is definitely a process to get the best end result for you. Homeownership is an important and expensive investment that requires most people to save for a number of years. For most people, the journey to home ownership begins with making a down payment so they can take out a mortgage. However,...

The Real Meaning of Zero Down Payments & the Implications of This Practice

The typical home down payment is about 20 percent of the purchase price. This amount is used as the standard when saving up to buy a home. However, over time, other down payment amounts and mortgage programs have popped up. There were even programs created that offered low to zero down payment options for home purchases. Then, the bottom fell out...

What is Private Mortgage Insurance?

Home ownership is something that many people in America want, but something that can be a process to attain. Quite often, one of the most difficult things for people to achieve is saving up the down payment that financial institutions require before they approve a mortgage. For many buyers, the down payment amount is typically 20% of the value of...

Must-Follow Advice for First Time Home Buyers

Buying a home is one of the most exciting times in your life, but it can also be one of the most daunting experiences. The home buying process does not have to be stressful if you use the right strategy and prepare beforehand. This article discusses the best advice for home buyers from those who have already gone through the process, including the...

Recent Posts