How much money do I need for a down payment?
This article is a free resource in the Home Buyer University course offered by Life & Legacy Properties.
Types of Loans
Where to get downpayment help (pull from “solutions” article)
The risks of a small downpayment
The benefit of a big downpayment
Conventional Loan
car payments
student loans
child support
credit card debt
other home mortgages (if buying a second home)
Example:
$100,000 Annual Income
$8,333 Monthly Income
Debt to Income at 45% = $3,750 eligible for debt payments
Watch the video version of this article on Instagram (@LifeandLegacyProperties)
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