Can you afford your first home mortgage loan ?

First home mortgage

Finally buying your dream house become a reality. But, the question is how much can you afford to suits your current financial situation. There are few things might be in your consideration when deciding to buy your first home mortgage. Don't let this thought stop you from achieving your first home mortgage. Here are some guide for you to consider whether you are ready to commit paying your first home mortgage loan.

1. Ask yourself how much earnings you are getting now? Is there any possibility to rise up? Next, how much money in debt? Consider your economic condition after several years from now. You must sum all the bills and calculate how much money you have to pay monthly after decide taking your first home mortgage loan.

2. If your debts are well managed, then you can afford your first home mortgage loan. Your first home mortgage loan officer will ensure that your payments will only total 33% or less of your monthly gross income. Otherwise, pay off some of your debts before applying for your first home mortgage loan.

3. Decide which one you prefer: fixed, adjustable or balloon rates. Paying a fixed rate is a more popular choice because it can protect you from surges in interests while paying the lowest rate possible for an agreed period of time may be lighter on your budget, but your mortgage loan payment can go up later.

4. Another important factor to consider when taking your first home mortgage loan is preparation to pay on down payment. Typically, it is about 20% of the total price. A house priced at $200,000 will require a down of $40,000. There are also loans with low or no-downpayments, but it will cost you in terms of equity in the long run.

5. You have enough money saved that's equivalent to at least three months monthly income when deciding taking home loan for your first home mortgage. This will help cover unexpected expenses that could affect your mortgage payments.

There is no fixed answer on the affordability of your first home mortgage. It will all depend upon your income, debt, interest rate and other factors. If taking home mortgage loan fits into your personal situation, then you can definitely afford it.

First home mortgage

First Time Home Mortgage Loan

first home mortgage

By Joe Karakas

Getting a first time home mortgage loan can be a tricky business but the good news is that the competitive mortgage market welcome first time home buyer mortgage loans and offer incentives and attractive rates for first time buyers looking to join the property ladder.

Before you make an offer on a property it is important that that you get a first time home mortgage loan approved in principal by your mortgage company or independent mortgage broker, especially if you are placing a bid on a foreclosure property as often you will need to complete the deal within an agreed timescale so it is best to have your first time home mortgage loan approved before even viewing a property. If you are looking for the best rate on a first time home mortgage loan you should offer a good deposit on the property such as a 10% deposit which will entice lenders to offer you a more attractive rate as you are borrowing less equity against your home.

Another way to save interest on first time home mortgage loans is to reduce the length of the mortgage term to 20 years instead of 25-30 years which will save you a small fortune in interest repayments but you must be prepared to pay a higher monthly mortgage rate although the benefits are well worth finding the extra money every month.

Another important factor when considering a first time home mortgage loan are any set up or admin fees as often the company offering a lower interest rate will charge a higher initial fee which may offset any savings on the interest rates. First time home mortgage loans also often have high redemption penalties which basically means that if you pay off the mortgage or sell your home within 2-3 years you will be liable to pay 6 months interest payments as a redemption penalty.

This can amount to thousands of dollars so try and go for a first time mortgage loan with low redemption penalties just in case you don't like your new home and sell up earlier than planned!

If you want to save money on your mortgage you must check out our tips at first time home mortgage loan Article Source: http://EzineArticles.com/?expert=Joe_Karakas

first home mortgage

First Time Home Mortgage Loans

first home mortgage

By Paul Anderberg

The process of buying a home can seem difficult and too expensive. It's NOT. First Time Home Mortgage Loans, Down Payment Grants, Closing Costs, Home Inspections and Testing, even brokerage fees are all often easier to obtain and/or less expensive for a First Time Home Buyer.

It would be impossible to discuss all of those aspects of home buying in one short online article. The webmaster of this article site is quite enlightened and generous, but there is a strict upper limit for acceptable length of article here (whew!! - who wants to read a long dissertation, anyway?) - so I will just comment on First Time Home Mortgage Loans in this little essay.

When you first think about buying a home, you are confronted by going into debt WAY deeper than you ever have before. Don't be dismayed by this. Your monthly housing expense will hardly increase - indeed, it may actually go down! Long-term debt in an economy where mild inflation is expected and even encouraged (please excuse me - I fear I sound a bit like an Econ 101 text) is a "tried and true" wealth producer.

But paying too much for your first mortgage loan is a big mistake. Luckily, it is one that is easily avoided when you are buyng your first home. Many lenders originate home mortgage loans to first time buyers at below-market rates with much lower upfront costs. Also, most governmental units - local, state, and federal - either guarantee or directly fund these loans for first time buyers at sometimes astonishingly favorable rates and terms.

Why do they do this? In the case of banks - they hope to profit from you when you return when buying subsequent homes. Governments recognize that people who own their homes rather than rent them make better citizens. Therefore, they encourage home ownership.

Information about whether or not a particular lender offers attractive First Time Home Mortgage Loans is readily available on the Internet. Details about governmental assistance programs usually still require calling and being put on hold and then being transferred. Persistance is necessary when trying to get accurate information from the government. But do it - it's worth it!

Remember: just like you only get one chance to make a first impression (my Dad, the mortgage banker, used to tell me that,) you only get to benefit from First Time Home Mortgage Loans once in your life.

Paul Anderberg http://www.first-time-home-buying.net/mortgage-loan.html Mr Anderberg is the author of many helpful articles about home buying. Visit his website, http://www.first-time-home-buying.net , to read more. Several of his other articles are also available on this site. Article Source: http://EzineArticles.com/?expert=Paul_Anderberg

first home mortgage

Getting Your First Home Mortgage Loan

first home mortgage

By Greg Pashby

As expected, buying a home for the very first time can be quite stressful, especially if you are not familiar with the entire process. Hopefully the information below makes you a little more knowledgeable in the specifics, as it is useful in obtaining a better offer when you are applying for a mortgage.

Mortgages: The Basics

Generally speaking, a mortgage is the money borrowed from the lender that is used to buy a house. The cost of borrowing this amount of money is represented by the interest rate. You can typically find lenders anywhere, especially since the mortgage industry has expanded given the increase in property availability. The combination of investors seeking a high return and the government pushing the “American Dream” ideal has led to a great influx of money into the mortgage business.

Mortgage lenders come in many different forms. They can be public or private companies, private investors, and banks, just to name a few. To find a suitable lender, you can contact a mortgage broker who will help you conduct your search and match you up with a lender who best suits your situation. An alternative approach is to do your research and shop around by yourself. A quick and easy way to do this is via the internet. There are numerous websites for you to browse at your disposal, and it is important to remember that the terms and policies of a loan offer are for the most part malleable. That is, you can always negotiate more beneficial terms, so never accept an initial offer.

Process Length

The entire process of applying for and agreeing on a mortgage negotiation takes somewhere between thirty and ninety days. This number is based upon a few variables, such as the nature of the lender and the property situation. It is important to note, however, that the actual process of shopping for and tracking down the right lender may take weeks if not months.

Home buyers with good credit may stumble upon favorable terms more quickly than those with a poor financial report. Another important factor to consider is the availability of the property. To make things easy on oneself, it is wise to construct some sort of timeline so that you can save enough money for the time when escrow closes.

Fixed Versus Adjustable Mortgage Rates

Which rate to choose is basically up to the buyer, for neither one is “better” than the other. However, one may be more integral to a buyer’s needs. If the borrower wishes to have an interest rate that is slightly higher than normal, but assured that the payments will be consistent in value, then a fixed mortgage rate is the way to go. On the other hand, if the buyer prefers to have a low interest rate upon agreeing to the terms of the loan and is willing to risk an increase in future payments, the adjustable mortgage rate would be a good choice.

You may even be able to find a lender who is willing to somewhat combine the two types of rates, meaning something in the middle of the road that ends up working better under the circumstances.

Points on a Loan

A point is equal to one percent of the principal amount borrowed which is paid to the lender in return for a reduced initial mortgage interest rate. For instance, if you are borrowing $500,000 and are required to pay 2 points, then you would have to pay the lender $10,000 to lower the interest rate.

Just because paying points entitles you to a lower interest rate, you still may end up paying more money by choosing this route. It is important that you carefully calculate each scenario so that you can decide which option will save you the most money in the long run.

The Loan-to-Value Ratio

This ratio determines the amount of money you are able to borrow against the property value. In other words, the amount borrowed is a percentage of the value of the property. As an example, suppose your property is valued at $750,000, and the principal amount of your loan is $500,000. The loan-to-value would be about 67%.

Typically, lenders do not like to loan more than approximately 80% of the market value of the property. However, there are certain lenders, called sub-prime lenders, who will let a buyer borrow a loan-to-value of 100%. This is recommended if your credit report is not as noteworthy as you would like. Do some research to see if you qualify to be approved for a sub-prime loan.

Gregrey Pashby is a writer and contributor for Bad Credit Lender who specialize in bad credit loans and hard money loan information. Bad Credit Lender provides poor credit mortgage refinance loans, bad credit home loans, and hard money loans. In addition, Greg is one of the main contributors to the Coastal La Jolla Funding -- A California Hard Money Lender and 1st Access Hard Money & Foreclosures. Article Source: http://EzineArticles.com/?expert=Greg_Pashby

first home mortgage

Mortgage Basics for First Time Home Buyers

first home mortgage

By David Cannell

Anyone planning to take out a mortgage for the first time will most likely find the job a little daunting, not least because the financial jargon can often be very difficult to make sense of. As with any major financial decision, it is essential to fully understand every aspect of a mortgage plan before making a commitment. It’s also vital to simply do the math, to calculate exactly how much each type of mortgage will cost for the overall life of the loan, how long it will take to repay, and what the monthly repayments will be. Buyers would be wise to make the financial calculations before choosing a home, to get a clear picture of exactly how much home they can really afford to buy. More information is available at http://www.money-smash.com

One of the most important decisions to make is choosing the term of the mortgage. Most fixed term mortgage plans work on either a 15 or a 30 year period. Generally speaking, a 15 year plan means the monthly repayments will be higher, but less interest is paid over the long term, so often the mortgage will work out cheaper over the life of the loan. A 30 year plan will normally mean more interest in the long term, but the monthly repayments will be lower, which may mean the borrower can afford to buy a more expensive home.

Another important choice to make is between a fixed and an adjustable rate mortgage. The terminology is as simple as it sounds, although making the choice between the two types of plan may be a lot more complex. Fixed rate mortgage means the interest rate is set at the time the loan is made, and remains the same throughout the life of the loan. With an adjustable rate mortgage, the interest rate is set for the first few years, then after that, it is determined by various external economic factors which are outside the control of the lender and the borrower. Usually there will be some kind of cap to protect borrowers from excessive interest rate rises. A fixed rate plan is the less risky option, but an adjustable rate plan generally offers lower rates initially, and should interest rates fall in future, borrowers can take advantage the lower rates immediately, without having to refinance.

David Cannell is a freelance writer and university educator. He is also the owner of http://www.money-smash.com Article Source: http://EzineArticles.com/?expert=David_Cannell

first home mortgage

(First Home Mortgage ) Mortgage Tips for First Time Home Buyers

By Raynor James

Going through the purchase of your first property can be a bit intimidating. Yes, you can read books and get help, but doing something for the first time is always a bit stressful. Just to add to your fun, picking up a property also requires you to get a mortgage.

You have decided to pursue the American Dream of homeownership. First, congratulations! As you may have heard or read somewhere, you need to find the home of your dreams and then apply for a mortgage to pay for the thing. This advice is absolutely and fundamentally wrong! In reality, you should pursue the process in the exact opposite order.

Let’s assume you find that dream home or at least a starter home you are comfortable with. Most first timers immediately get that glazed look in their eyes where they start visualizing the placement of their furniture. Next thing you know, they have made an offer on the property. If the offer is accepted, they are ecstatic until the suddenly realize they have 30 days or so to get a mortgage lined up. They then race off to a lender and pray it all comes together in time. Taking this approach is extremely stressful and you should avoid it if possible.

One of the simplest, yet most effective, mortgage tips is to focus on timing. In this case, I am referring to the timing of the application for your mortgage loan. Simply put, you want to apply before you ever go house hunting. This process is known as getting pre-approved for a loan and it will make your life so much easier.

The advantages of getting pre-approved for home loans are many. First, you are under no deadline related to the purchase of a home. If there is a problem, you can deal with it in a calm, mature manner. Second, you know exactly what you can afford when you go house hunting because the bank will have already told you. Third, you are going to be far more attractive to sellers because you already have your financing lined up. This makes them more comfortable because there is one thing less for them to worry about. You can also use this to your advantage by negotiating a better deal with them.

If this is your first time buying a property, you can make life a lot simpler for yourself by getting pre-qualified by a mortgage lender. Once you know what you qualify for, you can get out there and shop till you drop for your dream home.

Raynor James is with the site - FSBO America - see our new section on Mortgage Loans. Article Source: http://EzineArticles.com/?expert=Raynor_James

first home mortgage

First Time Home Buyer Mortgage Credit Score

first home mortgage

By Joe Karakas

You are probably running into a lot of terms and expressions that you are not familiar with. Add that to the anxiety of trying to get a mortgage, and this could be a downright stressful time for you. There are some tips of the trade that can give you a head start when you are a first time home buyer. The first thing you need to do is ensure your credit report is in good order. You don’t want any surprises to crop up when you get down to applying for that first time home mortgage loan. Knowing what your mortgage credit score is beforehand will give you a head start in landing that dream home.

The first thing you need to do is get a copy of your credit report. Analyze every item and every line very carefully. Look for things that seem askew. If there are credit cards open that you don’t use, have the accounts closed. Check for any items that come up as discrepancies or errors on your report. This would look like outstanding accounts that you know have been paid. You will need to have those corrected before you apply for your first time home buyer mortgage loan.

Your mortgage credit score is going to be affected if there are discrepancies on your credit report and you may not get the mortgage you want. To clean up the errors, send a request in writing to the company asking them to repair the discrepancy. Keep a copy of all documentation. If the error is not resolved by the time you apply for your mortgage, you may need to show it. Once you have the errors corrected and unused accounts closed, you will be well on your way to a healthy looking mortgage credit score.

Articles on first time home mortgage loan and first time home buyer mortgage can be find at our website. Author have over 6 years experience in the real estate and insurance field. Before you make any financial decision seek a professional advice! Article Source: http://EzineArticles.com/?expert=Joe_Karakas

first home mortgage

First Time Home Mortgage Loan Pre-Approval

first home mortgage

By Joe Karakas

When you go shopping for that first time home buyer mortgage loan, one option that is recommended is to see if you can get a pre-approval. What this means is that you will discuss your financial situation with your banker or mortgage broker, and they will give you a pre-approval for a mortgage. Essentially, they are telling you how much of a mortgage they will finance for you. This will ultimately make your first time home buyer mortgage loan a faster, easier, and simpler process. Before you even go house hunting, you will know what price range to look in, as well as how much your monthly payments are going to be. Some banks may even allow you to lock in the interest rate at the time of pre-approval. This means that if the interest rates change while you are looking for a home, you are protected through your locked in rate.

Before you go for your pre-approval however, make sure you have read the article “Know your Mortgage Credit Score if You are a First Time Home Buyer”. If you have a clean credit record, then getting your pre-approval will not only be faster, but you may qualify for a larger first time home buyer mortgage loan.

Obtaining a pre-approval for your first time home buyer mortgage loan offers many advantages. You will save time looking for a home because you will know exactly what price range to look in. The negotiations you will be making with realtors and sellers will be much smoother because pre-approved first time home buyer mortgage loans take the uncertainty out of a buyer’s offer on a house. You will also have a lot less hassle. Closing details will proceed much faster, as will appraisals of the new home.

You already have enough hassles when you are shopping for your first home. Make your first time home buyer mortgage loan process that much simpler by obtaining a pre-approval. You’ll be glad you did!

Articles on first time home mortgage loan and first time home buyer mortgage can be find at our website. Author have over 6 years experience in the real estate and insurance field. Before you make any financial decision seek a professional advice! Article Source: http://EzineArticles.com/?expert=Joe_Karakas

first home mortgage

First Time Buyer Mortgage Assist Us to be a Home Owner

first home mortgage

By Joanne Elizabeth

First time buyer mortgages help us realize the dream of purchasing a home of our own. Mortgage loans are basically the loans which aid you to become a home owner. These loans are lent against the equity in your house. First time buyer mortgages assist people to become a first time home owner. So don’t let money be an obstacle in the way of buying the house of your dreams. Avail a First time buyer mortgage.

Some of the benefits of First time buyer mortgage are:

• Rate of interest charged is low
• Monthly installments are small
• Smaller monthly outgoings
• Repayment duration is longer
• Flexible repayment options

In case of an adverse credit record it becomes very difficult to get a mortgage loan. But you don’t need to feel dejected as there are many creditors who provide mortgage to bad credit borrowers. Bad credit mortgages are especially designed to help people having a poor credit record. Buying a home is no longer a difficult task as the financial market offers its borrower’s Bad credit mortgages to buy homes of their own.

The most advisable way is to search for First time buyer mortgage is through the World Wide Web. Availing an online loan saves you both time and efforts. So, apply online now for a First time buyer mortgage and materialize your dreams of being a home owner.

Webmaster First time buyer mortgage assist us to be a home owner Article Source: http://EzineArticles.com/?expert=Joanne_Elizabeth

first home mortgage

First home mortgage buying tips :When choosing the most appropriate loan type

First home mortgage

After decide buying your first home mortgage, considering a loan can be very useful. Yet, this is only the case if you were clever to pick the most appropriate home mortgage loan for you. Otherwise, you might end up being so loaded by what you have to pay regularly for the loan. Loan providers are always willing to give you assistance on applying your mortgage loan.

When choosing your first home mortgage loan things can be so confusing for the first time. Thus, as long as you communicate well your needs to your mortgage loan agent, you may expect a professional advice and suggestions from them when deciding choosing your first home mortgage loan.

One type is called fixed rate mortgage. The rates here are steady during the life of the loan. Thus, monthly payments do not change and stay the same until all has been pay. If you wish for lower monthly payments, you possibly choose 30-year fixed-rate mortgages for your first home mortgage. The downside, however, is the truth that it will bring you a while to accumulate equity in your home.

If such is not the case for you, you may perhaps option for a 15-year fixed-rate mortgage instead for your first home mortgage loan. Since the principal and interest are distributed to a 15-year period, you easily accumulate equity in your home. However, the monthly rates are certainly higher since you cut the stage of payment to half. This is most suitable for your first home mortgage if you have intentions of selling your home in a few years time at the same time as enjoying a stable rate.

The inconvenience for any form of fixed rate mortgages is manifested if interest rates turn out to go down after some time. As soon as you be in agreement to a certain rate at the start, no matter how much the interest rates reduce along the way, you will not be covered by that anymore and you will have to adhere to what has been agreed upon.

Another kind is called adjustable rate mortgages when choosing your first home mortgage loan. Interest rates here change periodically based on a stable index so monthly payments will either increase or decrease. A 1-year adjustable rate mortgage, for example, causes adjustments in the interest rates yearly.

Common indices followed by adjustable rate mortgages include 1-year Treasury Notes, Federal Funds rate, and the National Cost of Funds Index. There is generally a margin of one to two percentage points which are added up to the declared index rates.

The rates may raise or reduce depending on the two caps that are usually included. The first cap sets forth limitations on the adjustment throughout a certain phase while the second one gives limitations all throughout the loan.

The benefit with this type is that monthly payments fall with a decrease in the index. However, payments are also going to be vulnerable whenever there is an increase. You might then want to evaluate the current system and situation given when choosing your first home mortgage loan..

Another way of possibly shortening your first home mortgage loan is through the purchase of a balloon mortgage which may function either as a fixed rate mortgage or an adjustable rate mortgage during the initial years. After a certain period of time, a considerable amount of loan is left which you have to pay in bulk.

Indeed, there are several options for you in the market when choosing your first home mortgage loan. Also, an idea about the current condition of the mortgage loan industry will help since it will make you aware which home mortgage loan type will be most advantageous when choosing your first home mortgage loan.

First home mortgage

Tips on buying your first home mortgage : What is home mortgage services you can benefit of

First home mortgage

Homes are regarded in a different way by different kinds of people. What is your perception on your first home mortgage ? Some may people perceive first home mortgage as their major possession. And some people think it to be an investment after a while and give them a large income return.

Buying your first home mortgage is may be your dream for years. Here are some guidance you may apply when considering your first home mortgage loan. These are the different home mortgage services you can apply to your houses :

1. Fixed rate mortgage loan.
The most important factor you have to look at is the interest rate when your buying your first home mortgage. With fixed rate mortgage loan, you compute for the principal loan amount plus the fixed interest for the term of the loan. Then you pay it in equal installments until you cover the whole amount.

2. Variable rate mortgage loan.
This is another way to consider on your first home mortgage loan. This one works basically the same thing as the fixed rate mortgage. Only, it has a variable interest rate. But you still get to pay a fixed amount. But the principal is paid depending as to how high the interest is for the month.

3. Lot loans.
Dreaming of your first home mortgage, this loan also may be one of option when you are ready to buy a land but is not yet ready to build a house. Then get a lot loan. Through it, you will be secured that you own a piece of land in the neighborhood you desire. And you can always build your dream house there when you're ready.

4. Rural Housing Mortgage Services.
If you belong to the low to moderate-income borrowers within a rural area, you can avail of this loan. They offer fixed principal as well as interest payments. They also require very low down payments.

5. One-Year Adjustable Mortgage.
This type of mortgage service presents a discounted interest rate for the initial year. But its value, along with the principal, rises yearly throughout the term of the loan. This loan is good for people who intend to sell their house for a return of investment in the future.

6. Interest First home mortgage.
In an interest first home mortgage, borrowers are required to pay the entire interest of the loan on the first year. Then the proceeding amortizations are supposed to cover the principal in the next few years of payment.

These are six different home mortgage services you may think about when choosing loan to get your first home mortgage. These will be able for your future guideline for buying your first home mortgage.

First home mortgage

First Time Home Owner Mortgage Loans

first home mortgage

By Carrie Reeder

First time home owners are sometimes surprised at the complexity of the mortgage lending process. If you are searching for a mortgage and you have never owned a home, there a few things you can do to make the mortgage process less confusing. First time home owners should educate themselves on the home-buying experience before contacting mortgage lenders. There are many choices in obtaining a first time home owner mortgage loan. Friendly mortgage professionals are available to assist you in making the right decisions.

Before applying for a first time home owner mortgage loan, shop around and find the lowest interest rates, down payment requirements that fit your budget, and terms that suit your lifestyle. You can choose from 15 up to 30 years and you can choose a fixed or variable interest rate. With so many loan products available, it is hard to know which one is right for you. You must consider your long-term goals, the length of time you plan to own the home, and your current financial situation. Professional, knowledgeable mortgage lenders will be able to advise you as to which choices may be appropriate for you.

Applying for a first time home owner mortgage loan does not have to be a stressful, scary experience. Many first time home owners have found valuable help and advice from mortgage lenders who are eager to approve a first time home owner mortgage loan. Applying for a mortgage does not have to be difficult. Let expert mortgage lenders help you in making the best decisions for your individual situation. You can even apply for a first time home owner mortgage online. The application is fast and simple and you will be well on your way to being approved for your first mortgage.

Owning a home is the dream of millions of people. Your first time home owners mortgage loan can be approved quickly and you can fulfill your dream of home ownership with the help and advice of expert mortgage lenders who are competing for your business. Becoming a first time home owner does not need to be frustrating and stressful. Allow a professional mortgage lender to guide you through the mortgage process painlessly. A first time home owner mortgage loan can be yours in less time than you thought possible.

To view our list of online mortgage lenders, visit this page: Recommended Online Mortgage Lenders.

Carrie Reeder is the owner of ABC Loan Guide, an informational website with articles and the latest news about various types of loans. Article Source: http://EzineArticles.com/?expert=Carrie_Reeder

first home mortgage

Applying for Your First Home Mortgage? What You Need to Know

first home mortgage

by: Jay Moncliff

People buy and sell homes every day, so you might think applying for your first mortgage is easy. Unfortunately it's a little more involved than buying a new bicycle, and can be quite a protracted process. You can reduce the stress associated with obtaining your first mortgage - the following suggestions will help you know what to expect in advance, and help you find the right mortgage for your situation

Home Mortgage tip #1 Shop for interest rates

Don't take the first interest rate you come across - shop around and discover the market average rate. Even easier than making phone calls is shopping online, which has the added benefit of being the place you are more likely to find discount interest rates. The loan and interest rate you choose governs your repayments, so the lower the interest rate you can find, the better.

Home Mortgage Tip #2 Choosing Fixed or Variable Interest Rate loans

Home loans have changed, and are no longer just a matter of paying a fixed amount over a set number of years. Fixed interest mortgages are still available, but there are other choices like variable interest rate mortgages. This choice allows you to choose the loan that best fits you situation, both now, and in the future. Researching the difference between fixed or variable rate home loans will help you decide what will work best for you.

Home Mortgage Tip #3 Down payment requirements

Many first home buyers are unaware of down payment requirements, which are usually between 10 and 20% of the amount financed. With a good credit history you may even be able to negotiate a lower deposit and a lower interest rate as you present as a lower risk to the lender. Again, this depends on the home mortgage lender, and it pays to shop around

About The Author

Jay Moncliff is the founder of http://www.mortgages-reviews.info a website specialized on home mortgage rate, resources and articles. This site provides updated information on home mortgage rate. For more info on home mortgage rate visit: http://www.mortgages-reviews.info.

first home mortgage