Buying your first house: Tips from millennial homeowners - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

5 millennials who became homeowners in their 20s share their best advice for buying your first house

Instead of purchasing a house, Harris and his girlfriend had a new house built in 2017 — and they used Florida's first-time homebuyer program to help afford it.

Qualifying for the program also qualified him for a Federal Housing Administration home loan that required a 3% down payment, Harris, who was 24 at the time, told Business Insider. "Since we only put 3% down on the loan, we elected to pay a monthly mortgage insurance of $109," said Harris, who oversees online and warehouse operations for a local interior-design firm."The way to get out of paying mortgage insurance is putting down 20% on the home loan. We plan on staying in this house five years or less. Paying mortgage insurance for five years will cost $6,450. Paying the 17% more at closing would have cost $34,680.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 729. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

XeuleBot

fake news

Lol this article is such bullshit. Just save your money until you can put down $262,000.00!

What a niche?!

1. Have privilege

Sverige Senaste nytt, Sverige Rubriker