Real Estate News - Denver, Colorado - Blog Archive: January, 2013

January 2013

Found 1 blog entry for January 2013.

THE RIGHT DOWN PAYMENT FOR YOU 

So, you are getting ready to buy a home.buiyng_a_home_346

You have a pretty good idea what price range you need to look in, but what about the down payment? How much will you need to be prepared to put down and what should you put down?

 The standard in buying a house is between 5% and 10% down payment. For example, if you were looking to buy a $100,000 house with 5% down, which would be $5,000, the remaining $95,000 would be financed with a mortgage company.  Let's say you have owned that house for one year and the property appreciates in value by 10%, making it's value at $110,000. What that means is that you have gained $10,000 on your initial investment of $5,000. That is considered high-leverage and is a great return on

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