Mascotte Home Mortgage Expert

Here are a few key considerations to keep in mind as you prepare:

1. Down Payment
Saving for your down payment is likely top of your list, but how much do you really need? Many people assume that a 20% down payment is required, but that’s not always the case. Depending on the type of loan or lender, you may be able to put down as little as 3% or even 0%.

The amount you need to put down depends on several factors, including the loan type and your financial goals. If you don’t have a large down payment saved up, don’t worry—there are plenty of options available.

A knowledgeable mortgage professional can help you navigate different loan types, down payment requirements, and potential down payment assistance programs. The more you learn upfront, the smoother the process will be. Working with a professional ensures you get the best options for your situation.

2. Closing Costs | Mascotte Home Mortgage Expert
Don’t forget to account for closing costs, which include various fees paid to the parties involved in your transaction.

Mortgage closing costs are the fees associated with buying a home that you must pay on closing day. They typically range from as little as 1 but sometimes up to 5 percent of the total loan amount, covering fees for appraisal, title insurance, and loan origination and underwriting.

A trusted mortgage professional can walk you through the details and help you prepare for these costs, so you’re ready when it’s time to close. Additionally, remember to budget for your real estate agent’s fee, which might not always be covered by the seller. You’ll discuss this in advance to ensure there are no surprises.

Mascotte Home Mortgage Expert – Bruce Monstany in Lake County Florida

Do you want more help financing your new home or getting mortgage funding? Bruce is ready to speak with you. Call Bruce today at 321-460-6251 to get the conversation started! He is local to Central Florida – he works and plays right in Lake County, Florida.

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