Purchase a home with a small down payment? It can be done.

For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us. Vested Land Services LLC can help. Located in Fairfield, NJ, we are the title insurance agent that does it all for you. Contact us at 973-808-6130.

A Smaller Down Payment, and No Mortgage Insurance Required

Does the need for a 20% down payment to purchase that home have you stymied?  Well, mortgage insurance, an expensive proposition, is on way.  But this article from the NY Times has a solution.

How did they do it? They took out one loan equal to 80 percent of the purchase price, and another loan for 10 percent — something that has traditionally been called a piggyback loan or a second mortgage.

The key is to be within the income requirements of the lenders offering this program.

So, don't despair, get out your calculator, see if you qualify, and start looking for your home.

And don't forget to call us for the title insurance!

Read the full report here.
 

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow AT vested.com

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