| Thanks to the subprime mortgage mess, no down | | | | including: |
| payment homes are a thing of the past. Actually this is | | | | - Save Your Change: Small change can add up to big |
| great news for potential homebuyers as it shows that | | | | savings. Stuffing your piggy banks daily with loss |
| lenders are taking a bit more responsibility by offering | | | | pocket change or stashing away ever $5 bill you |
| less risky mortgages. Despite that silver lining, those | | | | receive in change can add up to big bucks in very little |
| interested in buying a house and taking advantage of | | | | time. |
| the historically low interest rates need to have a lump | | | | - Borrow from Uncle Sam: Although they are not |
| of cash to begin the house buying process. | | | | advertised, both state and local governments may |
| Those thinking about taking the plunge should start | | | | have programs to assist those in need to secure the |
| working towards building the down payment nest egg | | | | money needed for a down payment. |
| now. Banks favor consumers who invest their own | | | | - Bank of Mom: Parents wanting the best for their |
| money into buying a home as it the act helps prove | | | | children may be more then willing to loan junior the |
| that buyers have vested interest in the purchase. | | | | required funds for a down payment. Taking advantage |
| There are additional perks to making a large down | | | | of their generosity is not cool, so make sure you pay |
| payment on a home. Lenders may offer you bet | | | | them back or it may be the last time they throw you a |
| interest rates (that can save thousands of dollars over | | | | financial bone. |
| the life of the loan), mortgage insurance cost will be | | | | - Bank Your Tax Refunds: The average 2010 tax |
| lower (as you will have a smaller debt to cover) and | | | | refund was over $3,000. Saving those for a couple of |
| you will already have some much-needed equity in | | | | years while earning compounding interest may be just |
| your home. | | | | the thing you need to finance your purchase. |
| Coming up with the large chunk of change is not an | | | | Saving for a down payment is only one essential step |
| easy task. However there are some creative ways | | | | in the home buying process. |
| you can get the money you need to buy your castle | | | | |