Buying a new home?
At Marblehead Home, I recognize that purchasing a home is one of the most significant and meaningful investments you will make in your lifetime. Your home reflects all that you are, and symbolizes all that you want to be. I am dedicated to providing you with the balance of expertise, integrity and follow-through that you deserve. I am particularly sensitive to the whole process of buying and selling a home. Whether you are relocating 3,000 miles or 3 blocks, moving up or scaling down – my personal service and market knowledge work to create both a smooth and efficient experience, plus stellar financial results. |
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First Time Buyers >The Down Payment
Perhaps no single decision in a real estate purchase has more variables than "How much money do I put down?" Conventional wisdom centers around either putting down as much as you can or as little as the lender allows.
If you put down a large payment, you get some leverage with the lender, such as little or no mortgage insurance, a good equity position, and perhaps a preferred mortgage deal. You will also have lower mortgage payments. One potential disadvantage of a large down payment is that you will be using after-tax dollars on which you could be earning interest. You will also have less tax-deductible interest.
When you buy a home with a low down payment, you will have more tax deductible interest, and your investment value percentage will increase faster. You will have little equity at the outset, and your monthly mortgage payments (and perhaps your interest) will be higher. However, you will also keep more of your own money in hand to potentially earn more interest in other investments.
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| Q |
How much does a celebrity's name boost the price of a property?
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| A |
Typically no more than 5 percent, but there are exceptions--the greater the fame, the higher the price!
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 See More Real Estate Trivia > |
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- NUMBER1EXPERT™ 
