David Bach helps you understand the basics about your mortgage; how much you can afford, how to get qualified, what term is best for you and much more. You’ll learn how to find a lender of integrity to help you make these important decisions and prepare you for the homebuying process and serve you after you’ve bought your home. Remember, homeownership is still the single most important investment you can make in your lifetime. Look for other webisodes in this series by searching for “Smart …
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4 Responses to Smart Homeowners Learn Mortgage Basics with David Bach
7plymaple
November 28th, 2009 at 12:58 pm
you can easily find online mortgage calculators and run the numbers to see what im saying
you also are buying a house that you only owe 80% of market value for the day you sign the loan
if you only owe 80% of the value of the home the day you buy it you can easily sell it and have a nice pile of cash any time you want or need to
and youll never be like many people out there right now who have lost their home because they lost a job and cant sell their home because they have no equity
7plymaple
November 28th, 2009 at 1:58 pm
this is good info , but it will keep you in debt much longer and cost you alot more money in interest unless you are VERY disciplined with extra payments
the best bet is a 15 year , fixed mortgage with 20% down to avoid pmi insurance
20% down sounds like alot to some people , but it simply means you rent a bit longer , which will pay off HUGE when you get the mortgage and see how much you will save unlike people who only put down 5% and buy a few years sooner
NessaPicci
November 28th, 2009 at 2:54 pm
Great information, David! if only more homeowners had listened to your advice before committing themselves to loans they could not afford…
pattiandjon
November 28th, 2009 at 3:30 pm
Thanks David, this was easy to understand and very helpful