Property Q&A in Hoboken>Question Details

Rashidajiwani, Home Buyer in Outside U.S.

can i pay 50%downpayment on any property that i buy abd get a smaller monthly payment?

Asked by Rashidajiwani, Outside U.S. Sat Apr 25, 2009

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This question is about this property: http://www.trulia.com/property/1071085609-159-14th-St-Hoboke…

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2
Hi there, Walter advised you well - a mortgage pro will be the best resource in clarifying your financial qualifications - but for sure, if you borrow less, your monthly payments will be lower.

Best,
Jeannie Feenick
Search and connect at http://www.feenick.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Sun Apr 26, 2009
Rashidajiwani,

As long as you can qualify for a mortgage amount of the remaining 50% of the purchase price, you can make a down payment of 50%. The more money you put down, the smaller your monthly payment will be.

If you haven't done so already, I recommend speaking with a mortgage lender to how much of a mortgage you qualify for and what your down payment options are.

Please let me know if you have any additional questions. I'll be happy to assist.

Sincerely,

Walter J. Burns
Realtor-Associate
Weichert Realtors
1 Newark St.
Hoboken, NJ 07030
201-653-8488 Ext: 230
201-694-8946 Mobile
201-653-4154 Fax
walterburns@gmail.com
http://www.livingonthehudson.com
0 votes Thank Flag Link Sat Apr 25, 2009
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