![]() |
home | about us | site map | contact us |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
Finance Mortgages
|
home > home mortgages > finance > articles > safety of 75% financing - part 1 Safety of 75% financing or less - Part 1This article will tell you about how safe 75% financing can be compared to other higher amounts of financing. What's 75% financing? It's mortgage-loan financing you get that equals 75% of the price of the home you want to buy. Which means, that when you opt to get 75% financing, you're choosing to make a down payment that equals at least 25% of the price of the home you're gonna buy. Choosing to get 75% financing for your home, or less than 75% financing for your home is a safer option than say, getting 85% or 95% or 100% financing for your home. How is it "safer?" It's always safer to borrow lessFirst of all, you'll be borrowing less mortgage-loan-money to purchase your home: and it's always good to borrow as little as possible. Did you know that when you get mortgage-financing, say even at a low rate of even 3% - that if you amortize your mortgage-loan for 25 years, you end up paying double what the home is worth in mortgage payments? Yeah, whoa. But if you put a good amount of money up front when you get your financing: a good 25% of your home's purchase price, your mortgage-loan won't cost you so much in the long run. Learn more about 75% financing It's safer to be able to pay-off your financing quickly, or in smaller amountsAlso, when you get up to 75% financing, since you're borrowing less than you would with say, 95% financing, you'll be able to pay back your principal faster. (Your principal is the amount of mortgage-money/financing that you borrowed). When you can pay back your mortgage-loan-principal faster - you don't have to deal with economy hiccups and changes for years and years and years. You'll pay-back your financing with less hassle. The alternative to paying off your 75% financing faster, is to pay it off in smaller amounts - so you'd make mortgage-payments on your financing each month that are ultra-tiney. And that can be safe in it's own right. If you choose to make smaller payments on your financing over a longer period of time - yes, you'd have to deal with uncertain economy changes. But you'd have the safety of teeny mortgage payments: so no matter where you are work-wise, or income-wise, you're mortgage payments will be little enough to not ever be a burden. Apply online for financing now! Learn more about 75% financing Get more info on home mortgage loan financing, by contacting The Mortgage Store Online's brokers. Just use the finance contact form or call them at 1-866-880-2577. << return to finance mortgage loan articles |
![]()
|
apply online | home mortgage refinancing | home purchase mortgages | home equity loans | home finance mortgages home loan types | home mortgage rates | mortgage calculators | mortgage articles | home mortgage loans | commercial mortgage loans | calculate mortgage payments | view current mortgage rates how to use a mortgage | learn about mortgages | privacy policy | disclaimer | home | contact us | mortgage glossary | about us | site map The Mortgage Store Online, Inc. Copyright ©2016 The Mortgage Store Online, Inc. All rights reserved. |