Buying a home – down payment?
July 15th, 2007 // 2:19 am @ admin
I am 23 and have about $5,000 in savings. I also still live with my parents, and I’ve been thinking of moving out for nearly 2 years now. I work full-time. Rather than rent, I would prefer to buy a home or a condo.
There are several condos in my area, the cheapest being around $100,000 (I live in New Jersey, where home prices are through the roof). I saw a 1BR/1 bath near me and was wondering if I could possibly purchase it now.
Would I be able to use my savings to purchase something now? Or do I need to wait until I have 20% ($20,000) saved up? It would take me at least 2 years to save that much money, and I don’t want to wait that long. I’ve heard of incentives for first-time buyers where you put down a very small down payment, as well as programs where you don’t put ANY money down.
Thanks for any advice.
Stan – they probably would offer (which I’d be very grateful for), but I’d rather not take their money if I can help it.
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Category : Questions
Nick Barnett Green Bay Packers Jersey?
February 9th, 2007 // 1:41 am @ admin
Where can i find a cheap Nick Barnett home jersey online?
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