As you prepare to purchase your next family home, you’re probably wondering which advice to listen to: should you save up as much as possible and put in a huge down payment, or should you turn to hard money lenders Sacramento or private lenders for real estate and tie up less of your own cash in home equity?
There are countless differing opinions out there regarding the best path forward for financing a home, but that doesn’t mean there aren’t still some general principles that it’s best to keep in mind. If you’re torn between a large or a small down payment, here are some factors to consider when choosing the amount you’ll ultimately put into your new house.
Shop Around for Potential Mortgage Lenders and Different Interest Rates
Your first step to determining whether putting in less than a 20% down payment, which is generally the amount advised to put in if you want to avoid needing private mortgage insurance, is shopping around for different lenders and seeing what the…