Pumpkin Spiced Lattes or Buying a Home?Recently, this conversation was discussed among friends about how people will buy lattes, coffees, or other specialized drinks as part of their daily routines.
Pumpkin Spice Lattes Could Keep You From Owning A Home
Pumpkin Spiced Lattes or Buying a Home?
Recently, this conversation was discussed among friends about how people will buy lattes, coffees, or other specialized drinks as part of their daily routines. Later, the conversation switched to purchasing a home and the amount of money needed for a down payment.
Typically in Maryland, a down payment for a home range anywhere from 3.5% to 20% of the purchase price of the home's sale amount. The down payment of a home also depends on the type of loan that bank preapproves you for based on your income and credit. Many first time home buyers, select the lowest amount (3.5%) for a down payment as their funds are limited.
Let's take a closer look at that figure:
|Price of Home||3.5% Down Payment||Size of Latte||Daily Cost of Latte||5 Year Cost of Daily Latte|
As you can see, the cost of those tempting lattes add up quickly. Just by changing that small spending habit each day, you can easily save up for a down payment on a home, very quickly! Imagine if you cut out eating out every week??? You could be purchasing a home even quicker!
For more money savings tips, credit issues, or to discuss the home buying process; contact Team Caropreso today by visit our website: Excellence in Real Estate
Being the CEO and Team Leader of Team Caropreso, Vince specializes in Listings, Marketing, REO/Foreclosures,Short Sales and working with Investors. With 19 years of experience and selling over 700 hom....