Finding A Low Down Payment Mortgage

I'm frequently asked about low down payment mortgage programs.

Getting A Mortgage Is Not About Timing The Market

Due to the price of real estate in the resort area of Cape Cod, a home buyer waited 9 long years hoping for a decrease in property values. In spite of a recession that lowered the price of homes, she still could not buy a house.

You can read about the Cape Cod home buyer's down payment dilemma here.

This is a predicament for other home buyers too. When money is flowing, economic optimism reigns. This optimism causes home values to rise. Fortunately though, low down payment mortgage programs are abundant.

Contrast this scenario to recessionary periods. True, the price of homes drop dramatically. However mortgage companies, driven by pessimism, require more investment from the home buyer in the form of larger down payments.

Local Real Estate Agent And Mortgage Lender

Buying in a resort area compounds this problem where even the best mortgage lender requires a larger investment on the part of the home buyer. For this reason, niche real estate and unique communities such as Cape Cod benefit from local assistance.

With this in mind, take the first step to finding a low down payment mortgage by searching for a local real estate agent who specializes in your specific area or type of property.

By working with a real estate agent, not only will you have access to desirable properties you might miss on your own, you can ask for referrals to local lending institutions who are more accepting of low down payment mortgage programs.

How To Choose Your Best Mortgage Lender

After finding a real estate agent, ask for three referrals to local lenders. How can you determine which is the best mortgage lender for you?

Easy! Here are 6 simple steps to compare mortgage rates and decide on the best mortgage lender for your situation.

First Time Home Buyer Credit

If you are buying a home as your primary residence, read this about the first time home buyer credit. An alternative to saving a 20% down payment, this generous credit could be your ticket to a low down payment mortgage.

Private mortgage insurance can be another piece to the low down payment mortgage puzzle. For easy to understand FAQs, visit What Is PMI - Solutions And Answers.

You Can Ask Kate Too

What if you could ask a mortgage insider about buying a house and getting a low down payment mortgage? Now you can!

Ask Kate™ is specifically designed to answer your questions and create dialog regarding real estate and mortgage financing.

You'll also find a wealth of information at Kate's Best Mortgage Rate Blog packed with the latest additions to this website, interest rate updates and a fresh approach to real estate and mortgages.

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How To Buy A House Q and A - A complete collection of questions about home buying, each with a individual answer from Kate

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