Jim Potts

Synergy One Lending

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What Are The Benefits And Drawbacks Of Putting 20 Percent Down On A Home Purchase?

March 3, 2023 by Jim Potts

Several generations ago, lenders required home buyers to have a 20 percent down payment in order to get a mortgage. While there were a few options out there for people who couldn't save this substantial amount, the reality was that for the majority of people, the 20 percent down was a requirement.

Filed Under: Loan Tips Reno Tagged With: Down Payment, Mortgage, Piggyback Loan

How Large Of A Down Payment Do You Truly Need?

November 29, 2022 by Jim Potts

If you are interested in purchasing a home, how much money should you put down? This is a difficult question that all potential homeowners need to answer, as it will dictate the size and location of the house you can afford. There are a number of factors to consider, so what do you need to know?

Filed Under: Loan Tips Reno Tagged With: Down Payment, Mortgage, Mortgage Rates

Should You Buy Mortgage Points?

September 7, 2022 by Jim Potts

When you take out a home loan, you might have the option to purchase mortgage points. Essentially, this is money that you pay to the lender upfront in exchange for getting a lower interest rate over the life of the loan. If you got a great deal on the house, you might have some extra cash on hand. Should you use that money to buy down the interest rate? This is a math problem that you need to calculate for yourself.

Filed Under: Loan Tips Reno Tagged With: Down Payment, Mortgage, Mortgage Points

Everything Homeowners Need To Know About Down Payments

February 23, 2022 by Jim Potts

Buying a house is an exciting time, but homeowners also need to make the best financial decision to meet their needs. One of the biggest decisions potential homeowners will face is how much money to put down.

Filed Under: Mortgage Tagged With: Down Payment, Interest Rates, Mortgage

Eliminate These 5 Barriers To Saving For Your Down Payment This Month!

February 16, 2022 by Jim Potts

With all the expenses that go into monthly living and the temptations that come along with life, saving money for the down payment on your new home can be quite a struggle for many people. If you're having a hard time saving and are wondering what you can do to ensure a higher bank balance next month, here are a few things that may pose a risk getting the home of your dreams.

Filed Under: Mortgage Tips Tagged With: Down Payment, Financial Planning, Home Purchase

3 Considerations When Making A Down Payment

January 19, 2022 by Jim Potts

One of the challenges you will face when deciding how much money to put down on your new home is whether to put down a larger down payment or to take a bit of money from your down payment and use it to pay "discount points" to lower your interest rate.

Filed Under: Home Buyer Tips Tagged With: Down Payment, Home Buyer Tips, Qualifying For A Loan

A 20 Percent Down Payment: Is This Really Necessary?

October 20, 2021 by Jim Potts

Purchasing a home is a major decision, and it could be the most expensive financial transaction somebody ever makes. Therefore, it is important to get this right. One of the biggest hurdles for a new homeowner is coming up with enough money for the down payment. A lot of people believe they require 20 percent down to purchase a home.

Filed Under: Mortgage Tagged With: Down Payment, Home Loan, Mortgage

Financial Preparation: Millennials Are Getting Ready To Buy Homes

August 20, 2021 by Jim Potts

In the current economy, there are a lot of millennials who are thinking about buying a home; however, the price of homes is rising quickly. It can be challenging for millennials to save the money they need to buy a home.

Filed Under: Mortgage Tagged With: Down Payment, Inspections, Mortgage

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Jim Potts

Jim Potts


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