What are the hurdles for 1st time homebuyers?
The more money you have for a downpayment the lower your interest rate can be. That’s from Kara Loftus, vice-president of mortgage services at Mountain American Credit Union. She says putting your house-buying plans on hold is a viable option until you have sufficient funds.
If you are in the military or a veteran, you could qualify for zero-down home mortgage. There are also 100% home loans available for first-time buyers; but you will need to cover the fees for taking out a loan.
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Published: Wednesday September 28, 2022