Home Ownership Myth No.2
Don't let a homebuying myth cause you to put your future on hold. Read on to see how breaking down perceived barriers, understanding the truth, and working with Military Mortgage Express - offered exclusively through Wells Fargo Home Mortgage - can help you make the investment of a lifetime.
Myth: "I can't afford a down payment."
The Truth: Even if you haven't been able to put aside a large amount of money, you may be able to afford a home right now, making a low -- or no down payment at all! Military Mortgage Express offers a variety of home financing solutions requiring only 5 percent, 3 percent, or 0 percent down.
Begin with the basics to achieve your goals: The down payment requirement can make all the difference. While a lower down payment can mean a higher mortgage payment, many people find it easier to make monthly payments than to save a large sum. A 15 percent down payment on a $150,000 home would be $22,500, but with 100 percent financing, you might be able to buy it today. Imagine taking years to save up $22,500, only to find the home price is now $175,000 and you need $26,250.
Count on Military Mortgage Express to help you buy a home without a lot of cash, or any at all.
Information is accurate as of date of printing and is subject to change without notice. Credit subject to approval. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. ? 2006 Wells Fargo Bank, N.A. All rights reserved. #40114 8/06-11/06
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