Renters
Mortgage Financing
Mortgage Financing
Unlike owners, renters do not incur any maintenance or repairs bills and they don’t have to pay property taxes. Renting typically requires a one-month security deposit, while a homebuyer is required to make a substantial down payment, which is typically around 20% of the property’s value. Generally speaking, renters also enjoy lower util
Unlike owners, renters do not incur any maintenance or repairs bills and they don’t have to pay property taxes. Renting typically requires a one-month security deposit, while a homebuyer is required to make a substantial down payment, which is typically around 20% of the property’s value. Generally speaking, renters also enjoy lower utility bills, greater flexibility in where they live, and access to amenities like a pool or fitness center that might otherwise be prohibitively expensive.
Mortgage Financing
Mortgage Financing
Mortgage Financing
Obtaining a mortgage is a crucial step in purchasing your first home. Lenders will begin by evaluating your creditworthiness and your ability to repay based on your income, assets, debts, and credit history. As you choose a mortgage, you’ll have to decide between a fixed or floating rate, the number of years to pay off your mortgage, and
Obtaining a mortgage is a crucial step in purchasing your first home. Lenders will begin by evaluating your creditworthiness and your ability to repay based on your income, assets, debts, and credit history. As you choose a mortgage, you’ll have to decide between a fixed or floating rate, the number of years to pay off your mortgage, and the size of your down payment. Conventional loans are mortgages that the government does not insure; so depending on your circumstances, you may be eligible for more favorable terms through an FHA, VA, or other government-guaranteed loans.