Open House - The Real Estate and Mortgage Show
Steve Gregory sits with Frank Napolitano and Paul Rushforth to talk real estate and mortgages.
On this week's episode of The Real Estate and Mortgage Show, Steve, Frank and Paul talk about the transition into the fall real estate market, Home Equity Lines of Credit, refinancing after a separation, mortgage rates, and much more.
One of the topics generating discussion this week was zero down or "cash back" mortgages. For many buyers, saving for a down payment is one of the most difficult steps in the home buying process. The option put forth by some lenders to obtain a mortgage without a down payment may seem like an attractive option to those who may have trouble saving. However, these mortgages come with a much higher interest rate, making saving for another year or two a viable alternative. As each individual household has a different financial situation, this illustrates the importance of seeking the individualized advice of a professional Mortgage Broker.