You want to buy your own home or perhaps you’re a move up buyer looking to climb the property ladder and purchase a larger home. But there’s just one problem: You don’t have the cash for a 20% down payment. What should you do? First, let’s assess your current situation: Are you a first-time homebuyer? Or […]
Tag Archives: Down Payment
Sources For Your Down Payment
Finding down payment cash is often the biggest challenge to buying a home. Rest assured we have lots of ideas to help you overcome this hurdle. PMI While PMI or Private Mortgage Insurance has pretty much made the traditional 20% down payment a thing of the past, buyers who are able to put more money […]
Employers Can Now Contribute to Workers’ Down Payments
A new program allows employers to help workers’ down payment on a home, similar to how companies contribute to a 401(k). HomeFundMe, a Fannie Mae and Freddie Mac-approved down payment crowdfunding platform, allows borrowers to crowdfund their down payment from several sources, including their employer. CMG Financial, a mortgage banking firm, created the HomeFundMe program. Employers can […]