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The North Brunswick Real Estate Blog is authored by ERA Absolute Realty and is your resource for everything related to real estate, home buying and selling in North Brunswick, New Jersey and surrounding areas. Looking for your dream home? Want to sell the home you own? We are passionate about our industry and this is our way of opening it to you. For more information please call 732-220-6611.

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Line Up Your Down Payment Cash Now

December 31st, 2007 by Scott Lauri | no responses

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It’s not uncommon for today’s buyers to worry more about their down payment than their monthly payment. Before you get serious about finding a home, be sure to line up your available cash for a down payment. Knowing how much cash you have will affect your ‘loan to value’ (down payment as percentage of home value), which in turn influences rates and private mortgage insurance (PMI). PMI is required by lenders to protect them against loss when a down payment is less than 20%. The extra monthly cost of PMI in turn reduces the amount you can borrow and the home price you can afford.

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The Author: Scott Lauri
About: Scott Lauri is broker/owner of ERA Absolute Realty a full service real estate company in Central New Jersey. He has over 10 years of Real Estate industry experience dealing with peoples real estate needs for buying and selling homes and investment properties. He is interested in helping people realize the dream of home ownership and wealth building and has worked with 100s of clients over the years. Scott is a member of the National Association of Realtor (NAR) and a graduate of Rider University. He enjoys skiing and spending his free time with his family.

This entry was posted by Scott Lauri, on Monday, December 31st, 2007 at 12:17 am and is filed under Condos and Townhouses, Home Buyers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response on the right, or trackback from your own site.