Tagged : buy or rent

Found 1 blog entry tagged as "buy or rent".

1. You Need A Large Down Payment

The first step to buy a home in Albuquerque NM for many home buyers is to get pre-qualified or pre-approved for a mortgage. Home buyers need a good lender to understand the different home loans they may be qualified.

There are many different types of loans and all different down payment requirements:

  • In Albuquerque, there is a first time home buyers program that allows first time home buyers to buy a home with an out of pocket payment of $500 to $1000.
  • There is another home loan called the Next Home, this home allows home buyers to purchase a home for as little as 0.50% down payment.
  • Federal Housing Administration (FHA) loans require a down payment of only 3.5%.
  • If you
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