How Much Do You Really Need to Put Down on a Home?

Posted by Florida Realty Marketplace on January 7th, 2019

Buying a home is often one of the most expensive endeavors one will take throughout their life, so it’s not surprising that saving for a down payment remains a major hurdle for many Floridians on their path to homeownership. But although a 20 percent down payment is considered ideal, it’s not actually as common as you might think, nor is it a necessity to buying a home.

The majority (52 percent) of buyers put down less than 20 percent on their new home.

Typically, you have to put between 3 and 20 percent of your home’s sale price down in cash to qualify for a conventional loan (30-year fixed mortgage), but there are exceptions. If you meet eligibility guidelines, you might qualify for a home loan with a  zero-down payment through Veterans Affairs…

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How to Get A Mortgage

Posted by Florida Realty Marketplace on May 16th, 2018

You may be just a loan away from your dream home. You just need to learn how to get a mortgage first.

There’s a little more to getting a mortgage than waltzing into your favorite bank and asking for one. After all, your financial life will be much of what helps lenders decide to offer you a loan, not your personality. And unless you have enough cash to buy a whole house, you’re going to need a home loan. Knowing how to get a mortgage long before you attempt to will help your odds of success.

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What Is a Mortgage?

A mortgage is a loan from a bank or mortgage lender to help finance the purchase of a home without paying the entire value of the property up front. Given the high costs of buying a home, almost every…

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