Buying
Guide
How
Much House?
Qualifying
How Much Can I Afford?
Sources For Down Payment
How to Reduce Down Payment
One Caution
Figuring Housing Budget
Two Lender Formulas
More Mortgage Help
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One
Caution
The larger the down payment, the less money you need to borrow,
which means a lower monthly payment. However, remember that in addition
to your down payment and monthly payments, you will need money to
pay for closing costs, moving, appliances, household setup, a reserve
for family emergencies and other miscellaneous items. So don't plan
to put your last penny down on the closing table.
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