Most lenders require you to pay a portion of your own funds--the down payment--toward the purchase of a home. Saving for a down payment can be one of the most challenging steps in buying a home.
Your down payment plus your pre-approved loan amount will determine how much home you can afford. A down payment can come from many places: savings, investments such as stocks and bonds, gifts from relatives, company bonuses, equity in other assets, and life insurance policies, to name a few. Then again, there may be home mortgage alternatives that do not require a down payment.
If you currently own a home, then you may want the equity you have built in that house to serve as the down payment on your next home. But how much is your current home worth? We would be happy to provide you with a market valuation so that you will know its current value.
With some basic information about your home, we can establish a list of comparable properties in your area as reported by the Multiple Listing Service (MLS). If you would like a more precise and thorough market evaluation, we can stop by for a quick view of your home.
Please call or email us if you are interested in a free market evaluation of your home or if you have any questions.
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