Should All Future Home Buyers Consider a Bigger Downpayment?

That’s a good question. Let’s look at it.

With the current market of so many homes “upside down” or “underwater” in their mortgage, meaning your mortgage balance is higher than the value of your home, maybe starting out with a larger downpayment might not be a bad thing. Especially in a market like this if you made a larger downpayment and you are in an equity position and you hit a bump in the road such as an illness or job loss, you won’t be hurting so bad because you can tap into the equity if you need to keep your head above water until the tide turns. How awesome would that be? As long as you don’t use your home equity as an ATM card, you shouldn’t have a problem. It’s called discipline.

Check out the article in full:

http://realestate.msn.com/5-reasons-to-save-for-a-big-down-payment?GT1=35010’%20rel=’nofollow

One thought on “Should All Future Home Buyers Consider a Bigger Downpayment?

  1. Pingback: Atlantic County NJ – The Survey Says! « Homes of Atlantic County NJ

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