Why Your Down Payment Matters!!
With multiple offers commonplace, your down payment matters more than ever. Why? Here's a few reasons.
- Financial strength - greater down payment portrays a stronger financial position.
- Less reliance on a mortgage. If your income dips or a slight financial change occurs with you or a family member, less reliance on a mortgage can mean greater chance of still getting the mortgage.
- Ability to cover an under appraisal. With over ask offers there is a risk the property will not appraisal. Buyers are utilizing appraisal waivers to strengthen their offer and ensure the seller receives the number offered.
In summary - more cash down will provide a greater sense of comfort to a seller. It is unfortunate this is very true as it affects first time homebuyers and buyers looking to trade up the most.
To learn more about down payments and strategies to make up for lesser down payments, call me any time!
-Tom Ciccarone
Categories
- All Blogs (681)
- agent (180)
- baby boomers (184)
- best realtor (118)
- buy (188)
- buy a house (191)
- buyer myths (183)
- Buying Myths (184)
- demographics (185)
- Down payment (182)
- For Buyers (186)
- For Sellers (186)
- foreclosures (185)
- gen z (186)
- generation x (186)
- Holidays (183)
- homebuyers (193)
- homeownership (186)
- house maintenance (182)
- house preparation (182)
- housing market updates (184)
- infographics (183)
- Interest Rates (182)
- listing (184)
- Luxury Market (184)
- luxury real estate (183)
- millenials (187)
- mortgage (188)
- mortgages (181)
- pricing (182)
- purchase (189)
- real estate (117)
- realestateexperts (116)
- realtor (118)
- rent vs buy (182)
- Rent vs. Buy (180)
- schools (177)
- sell (185)
- sell a house (182)
- sellers (176)
- sellers market (176)
- selling myths (175)
Recent Posts

The Advice First-Time Homebuyers Need To Hear

The Truth About Where Home Prices Are Heading

Selling and Buying at the Same Time? Here’s What You Need To Know

Should You Buy a Vacation Home?

What You Should Know About Getting a Mortgage Today

Think No One’s Buying Homes Right Now? Think Again.

Why Big Investors Aren’t a Challenge for Today’s Homebuyer

Top 5 Reasons To Hire a Real Estate Agent When You Sell

Multi-Generational Homebuying Hit a Record High – Here’s Why

What Every Homeowner Needs To Know In Today’s Shifting Market