Very often people will give themselves self-proclaimed titles that they didn’t earn. We don’t do that! We are experts and received the Gold Award as company and the Platinum Award as individuals from Florida Housing for the amount of first-time homebuyer programs we have originated in the State of Florida.
The answer will always be that it depends as no two scenarios are the same but with where rates are right now for most it’s a good idea to put as little down as possible. There are many reasons for that such as owning a home as additional costs that renting does not.
Here is a great article from Credit.com on “Should You Ever Pay Cash for a Home?” The first question someone always asks us when looking into a mortgage is “what is your rate?” It’s not about the lowest rate but what is the lowest cost product.
Fannie Mae just announced that on or After April 14, 2015 you can request the 3% towards closing costs on Fannie Mae HomePath properties.
That was the headline from a WSJ.com article and they are 100% correct. Some refer to these buyers as Boomerang Buyers.