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down payment

A 20 Percent Down Payment: Is This Really Necessary?

October 21, 2021 by bobelliot

Purchasing a home is a major decision, and it could be the most expensive financial transaction somebody ever makes. Therefore, it is important to get this right. One of the biggest hurdles for a new homeowner is coming up with enough money for the down payment. A lot of people Read More

Posted in Mortgage Tagged down payment, home loan, mortgage

Is a 20% Down Payment Really Necessary To Purchase a Home?

September 24, 2021 by bobelliot

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment Read More

Posted in Home Buying Tagged down payment, home buyers, home buying

The Down Payment: Four Great Reasons To Make The Largest Down Payment You Can Afford

August 5, 2021August 5, 2021 by bobelliot

If you’re looking for a new home, you’ve probably heard lots of advice about down payments. About how it’s okay to just have a five percent down payment – you’ll still get approved. About how you should make the down payment as small as possible to avoid cash flow problems. Read More

Posted in Mortgage Tagged down payment, home buying, lending

Down Payment Assistance Programs May Make Homeownership More Affordable

July 14, 2021July 14, 2021 by bobelliot

There are many people who are currently looking to purchase a home while interest rates are relatively low; however, there are many homeowners who feel like they do not have a strong level of financial understanding when it comes to the process of purchasing a home. If homeowners don’t have Read More

Posted in Mortgage Tagged assistance, down payment, home loan

Do You Have Enough Of A Down Payment Saved Up?

June 16, 2021 by bobelliot

If you are planning on purchasing a home in the near future, you need to make sure you have enough money saved up. While there are a lot of expenses that go along with purchasing a home, the biggest expense is the down payment. The common belief is that people Read More

Posted in Mortgage Tagged down payment, mortgage, savings

Don’t Forget to Budget for Closing Costs

May 17, 2021 by bobelliot

When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. What Are Closing Costs? Read More

Posted in Home Buying Tagged closing, down payment, home buyer

How Much Time Do You Need To Save for a Down Payment?

April 19, 2021 by bobelliot

  One of the biggest hurdles homebuyers face is saving for a down payment. As you’re budgeting and planning for your home purchase, you’ll want to understand how much you’ll need to put down and how long it will take you to get there. The process may actually move faster Read More

Posted in Home Buying Tagged down payment

What Are the Benefits of a 20% Down Payment?

March 1, 2021 by bobelliot

If you’re thinking of buying a home this year, you may be wondering how much money you need to come up with for your down payment. Many people may think it’s 20% of the loan to secure a mortgage. While there are plenty of lower down payment options available for qualified buyers Read More

Posted in Home Buying Tagged down payment

How to Make the Dream of Homeownership a Reality This Year

January 18, 2021January 18, 2021 by bobelliot

In 1963, Martin Luther King, Jr. inspired a powerful movement with his famous “I Have a Dream” speech. Through his passion and determination, he sparked interest, ambition, and courage in his audience. Today, reflecting on his message encourages many of us to think about our own dreams, goals, beliefs, and Read More

Posted in Home Buying Tagged down payment

A Few Creative and Effective Ways to Save Money for a Down Payment

December 30, 2020 by bobelliot

For those who are looking to buy a home, they know that this is one of the most exciting experiences in the world. There is something special that comes with looking at a bunch of homes and envisioning a life there. On the other hand, the prospect of saving 20 Read More

Posted in Home Buying Tagged down payment

Home Expenses Include Far More Than Just the Down Payment

November 27, 2020 by bobelliot

If you are thinking about purchasing your first home in the near future, then you need to be aware of the costs that you are going to take on. When you are looking at the cost of a home, it is very tempting to focus on the sticker price of Read More

Posted in Mortgage Tagged down payment

How To Negotiate A Better Mortgage Rate

November 5, 2020November 5, 2020 by bobelliot

For those who are thinking about buying a house in the near future, they want to make sure that they get the best mortgage rate possible. At the same time, if people who want to reduce the interest rate on their mortgage, then they need to do everything you can Read More

Posted in Mortgage Tagged down payment, mortgage rate

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Bob Elliot
eXp Realty
612.868.5500
bob@mnresteam.com
7700 France Ave S, Edina, MN
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