Mortgage Broker Company - How Large A Down Payment Should I Make For My Mortgage.
Ok, the down payment is the difference between loan amount and the selling price.
What is the tough decision? Do you invest in points? Invest in a larger down payment? If you have the cash to equal 1% of the loan - you could earn a return of 20% or more buy buying down the rate if you hold the mortgage for 5 years or longer.
Plus the larger amount you put down, the lower your monthly payment will be, the less interest you will pay, you avoid paying mortgage insurance, and it is easier to qualify for a mortgage.
Sharon
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