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.
You can get away with putting as little as 10% down on a jumbo loan up to certain loan amounts. A jumbo loan is any loan greater than $417,000.
Many people will tell you getting a mortgage is extremely difficult and I would be one to 2nd that however it is most times self-inflicted and something that can be prevented by planning in advance and using the right professionals. Most do not understand what is involved in buying a home until they are in middle of it and it’s too late.
If you are looking to buy or even thinking about buying a property in Fort Lauderdale or South Florida now is the time to do it. Jumbo interest rates are lower than Conventional interest rates right now.
