Down Payment Talk

Did you know the size of your down payment can have a big impact on your mortgage?

Here are a few of the ways:

📉 Interest Rate A larger down payment often means a lower interest rate on the money you borrow.

🗓️ Monthly Payment A bigger down payment means smaller monthly payments, making it easier to budget.

💰 Total Cost The more you put down initially, the less you'll pay in total over the life of the loan.

🏠 Mortgage Type Certain mortgages might require a specific minimum down payment.

🔒 Mortgage Insurance With a smaller down payment, you may need mortgage insurance, adding to your monthly costs.

Want to learn more about how your down payment can affect the cost of owning a home?

Message me and I can get you in contact with my preferred lender.