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The Tallest Realtor in Town

Hill Country and Highland Lakes Real Estate Blog by Jeff Spears, 6 ' 7" Tall.
Can You Ever Save Enough?

I think we would all agree that you can never save enough money.  But, when it comes to purchasing a home, you can make a major dent in the overal costs by saving money in advance. 

If you are financing, the more money you put down, the better your rate.  Many lenders are requiring larger down payments in the current economy.  If you are able to exceed the mandatory down payment amount, you are likely to get an even better rate.  Or, you can use the excess funds to buy down your rate.  Your lender should assist you in figuring out the best approach for your personal situation.  There are also multiple online calculators that will help you identify your costs, including one on my website.  Once you couple a lower loan balance with a lower rate, you will be amazed at the cost difference over the loan period.

Saving 10 or 20 percent for a down payment is a major accomplishment.  If you can exceed this you will save major money in the long-run!

Posted: Sunday, November 15, 2009 2:10 PM by Jeff Spears

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