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Articles Tagged With: downpayment

FHA Mortgage Loan

August 28, 2024

Make A Bigger Downpayment On Your FHA Mortgage

By Joe Wallace

When buying a home with an FHA loan, having a large down payment can help you save money on the loan and even help a lender approve your mortgage application. Here are some key benefits to consider: Strategies For Saving A Downpayment With careful planning and sometimes a bit of outside help, you can achieve your downpayment goal. Here are strategies to help you save: There are also creative means you may consider to boost your downpayment fund: Saving for a larger down payment demands discipline and commitment, but the long-term financial rewards include a more successful homeownership journey through an FHA loan. 

 
Do You Need Down Payment Help?

August 26, 2024

How Much Should I Put Down On A House?

By Joe Wallace

Thinking about getting pre-qualified or pre-approved for a mortgage loan? FHA mortgages generally require a lower down payment and have more forgiving terms for loan approval, but the amount of money you put down isn’t just guided by your financial qualifications (see below). It also depends on your financial goals. Some sources indicate that more people put down less money than you might think to purchase their dream home. Some zero-money-down transactions are likely either VA loans (available for qualified veterans and dependent on serving a minimum amount of time in uniform) or USDA loans, which also have a zero-down payment option. But in some cases, you may actually wish to make a larger down payment. Why? In some cases it’s because a borrower’s FICO scores aren’t high enough to | more...