1. How many miles per gallon does your home get?
  2. Celebrate the season! 5 ways to get your yard party-ready
  3. Choosing the Best Siding Color For Your Home
  4. Is James Hardie Siding Worth The Investment?
  5. How To Get Squirrels Out Of Your Attic
  6. How to Avoid Roofing Scams
  7. Driveway Cleaning – Tips for Cleaning Anti Freeze
  8. 8 simple things you can do at home to improve indoor air quality
  9. 5 deep-cleaning jobs that are oddly satisfying
  10. Transform the look and feel of your kitchen with an updated sink
  11. 5 musts for a low-stress, on-budget DIY home project
  12. Deciphering the legalese in your furnace warranty
  13. If it can rain, it can flood: Why flood insurance is a wise bet for homeowners
  14. Protect your home from termites this spring
  15. 3 warm-weather home cleaning tips
  16. Top trends to inspire your outdoor living
  17. 2018 remodeling trends that boost your home’s value
  18. Silent destroyers: Tips to spot termites and prevent infestation
  19. Don’t re-roof until you do these 5 things
  20. 5 tips to create a personalized shed
  21. Simple strategies to stay on trend in your garden
  22. 4 ways hardscapes can add value to your home
  23. Hard water proves hard on your wallet
  24. Rooftop decks for every style
  25. 6 ways to revive your home with essential oils
  26. High-tech bathroom trends for 2018
  27. Do the math: Homebuying now may save a lot
  28. Deliver curb appeal with a DIY block mailbox
  29. The beauty of barn doors
  30. Keep your home pest free this year
  31. Fresh beginnings: Clean your bathroom faster with these tech tools
  32. 5 Ways to Beat the Heat This Summer
  33. Top 5 features millennials look for in a home
  34. Wildfire protection starts in these 5 places
  35. Rent vs. own: Which is right for you?
  36. 4 tips for protecting your home this season and beyond
  37. A great lawn begins with a great engine
  38. 4 tips to prepare for extended power outages
  39. Are hidden leaks damaging your home, boosting water bills and harming the environment?
  40. Spruce Up Your Outdoor Spaces
  41. Shedding new light: 8 surprising facts that will have you rethinking your lighting
  42. Top trends for the 2018 housing market identified
  43. 5 house cleaning tips for allergy sufferers
  44. 4 simple swaps when planning a kitchen refresh
  45. Why Millions of Homeowners are going for Modern Home Security Alarm Systems across the World?
  46. A General Guide to Buying Office Furniture for the Home Office
  47. Defining Luxury: American Hardwoods
  48. A Primer for First-Time Homebuyers
  49. The Ultimate Guide to Roof Repairs
  50. Top 5 Benefits of Buying an Essential Oil Diffuser
  51. Outdoor Spaces Offer Style And Comfort
  52. Yes, Homeowners, It’s Time to Prepare for Storm Season
  53. How to Have the Smartest Home on the Block
  54. The 12 Best Value Home Remodeling Ideas
  55. What To Look For When Buying A Home Security Camera System
  56. 5 Tips for a More Energy Efficient Home
  57. How to Find a Good Contractor for Your Small Business
  58. How to Have the Smartest Home on the Block
  59. How Technology is Changing the Industrial Manufacturing System
  60. Safety Training for your Construction Team
  61. 4 tips to prepare for extended power outages
  62. Why to have a Licensed Electrician at your Beck and Call?
  63. 5 Ways to Create More Data-Driven Content for Business
  64. How Technology Has Changed Industrial Equipment Sales
  65. Why Your Company Needs Operational Risk Management
  66. How Answering Services Work (And Why You Need One)
  67. How to Improve Your Credit Score Fast
  68. 9 Reasons Why You Need a Professional Web Designer
  69. Installment Loans: What Are the Benefits?
  70. The New Year’s resolution you can keep: A more eco-friendly home
  71. How Robots Are Transforming the Cleaning Industry
  72. How to Find a Good Contractor for Your Small Business
  73. How to Build a Strong Promotion Strategy for a Lighting Company
  74. Why You Should Hire a Digital Marketing Expert for Your Roofing Business
  75. 5 Strategies to Take Your HVAC Marketing Online
  76. Mix, match and mosaic: The top interior design trends of 2018
  77. Post-Hurricanes Harvey and Irma – How to Prepare For the Next Storm
  78. Cedar Offers Green Benefits
  79. Hit Reset with a Kitchen Lighting Update
  80. Small businesses have struggled to find funding
  81. America’s finest: 6 luxury home improvement products made in the U.S.
  82. The beauty of barn doors
  83. That ’70s home: 5 trends making a comeback today
  84. Trendy Custom Home Renovation Ideas
  85. 3 Kinds of Dining Room Tables that Never Go Out of Style
  86. 10 Essential Workplace Safety Tips
  87. How to Use Content Marketing in the Mortgage Business
  88. 4 Essential Household Accessories You Need to Own
  89. 10 Mold Solutions to Prevent and Remove Mold from Your Home
  90. How to Use Facebook Ads For Real Estate
  91. What’s In It For Me? The Payoff of Real Estate Online Advertising
  92. How to Seal Galvanized Pipe Fittings
  93. 5 Real Estate Advertising Tools That Can Help You Sell Your Home
  94. Saved from the Grave: How To Fix a Condemned House
  95. Low Maintenance to No Maintenance: 3 Simple Landscape Ideas
  96. 5 Tips for Power Washing Your Home the Right Way
  97. Construction Engineering Site: 5 First Blog Post Tips
  98. 4 Tips to Improve Your Home Improvement Blog
  99. 4 Things to Look for When Hiring Insulation Services
  100. 5 Clever Home Hacks That Make DIY Remodeling Easier
  101. How Solar Thermal Panels Help Schools Save Money
  102. How to Choose the Perfect Kitchen Island
  103. How to Choose The Right Wall Decor For Your Home
  104. Custom Remodeling: What To Know Before You Design Your Kitchen
  105. 7 Signs You Need a Toilet Replacement
  106. Why are Fire Risk Assessments So Important?
  107. Everything You Need to Know Before Moving Into a Tiny House
  108. Why Your Company Needs Operational Risk Management
  109. Social Media Management for Realtors
  110. How Technology Has Changed Industrial Equipment Sales
  111. Things to Look for in a Home Security Camera System
  112. 4 Great Tips For Construction Advertising Online
  113. Types of Replacement Windows: A Complete Guide to Buying the Right Window
  114. Why You Should Hire a Digital Marketing Expert for Your Roofing Business
  115. A Bro’s Guide to DIY for Guys
  116. Why Home Inspection Services Benefit Both the Buyer and Seller
Tuesday, November 20, 2018
  1. How many miles per gallon does your home get?
  2. Celebrate the season! 5 ways to get your yard party-ready
  3. Choosing the Best Siding Color For Your Home
  4. Is James Hardie Siding Worth The Investment?
  5. How To Get Squirrels Out Of Your Attic
  6. How to Avoid Roofing Scams
  7. Driveway Cleaning – Tips for Cleaning Anti Freeze
  8. 8 simple things you can do at home to improve indoor air quality
  9. 5 deep-cleaning jobs that are oddly satisfying
  10. Transform the look and feel of your kitchen with an updated sink
  11. 5 musts for a low-stress, on-budget DIY home project
  12. Deciphering the legalese in your furnace warranty
  13. If it can rain, it can flood: Why flood insurance is a wise bet for homeowners
  14. Protect your home from termites this spring
  15. 3 warm-weather home cleaning tips
  16. Top trends to inspire your outdoor living
  17. 2018 remodeling trends that boost your home’s value
  18. Silent destroyers: Tips to spot termites and prevent infestation
  19. Don’t re-roof until you do these 5 things
  20. 5 tips to create a personalized shed
  21. Simple strategies to stay on trend in your garden
  22. 4 ways hardscapes can add value to your home
  23. Hard water proves hard on your wallet
  24. Rooftop decks for every style
  25. 6 ways to revive your home with essential oils
  26. High-tech bathroom trends for 2018
  27. Do the math: Homebuying now may save a lot
  28. Deliver curb appeal with a DIY block mailbox
  29. The beauty of barn doors
  30. Keep your home pest free this year
  31. Fresh beginnings: Clean your bathroom faster with these tech tools
  32. 5 Ways to Beat the Heat This Summer
  33. Top 5 features millennials look for in a home
  34. Wildfire protection starts in these 5 places
  35. Rent vs. own: Which is right for you?
  36. 4 tips for protecting your home this season and beyond
  37. A great lawn begins with a great engine
  38. 4 tips to prepare for extended power outages
  39. Are hidden leaks damaging your home, boosting water bills and harming the environment?
  40. Spruce Up Your Outdoor Spaces
  41. Shedding new light: 8 surprising facts that will have you rethinking your lighting
  42. Top trends for the 2018 housing market identified
  43. 5 house cleaning tips for allergy sufferers
  44. 4 simple swaps when planning a kitchen refresh
  45. Why Millions of Homeowners are going for Modern Home Security Alarm Systems across the World?
  46. A General Guide to Buying Office Furniture for the Home Office
  47. Defining Luxury: American Hardwoods
  48. A Primer for First-Time Homebuyers
  49. The Ultimate Guide to Roof Repairs
  50. Top 5 Benefits of Buying an Essential Oil Diffuser
  51. Outdoor Spaces Offer Style And Comfort
  52. Yes, Homeowners, It’s Time to Prepare for Storm Season
  53. How to Have the Smartest Home on the Block
  54. The 12 Best Value Home Remodeling Ideas
  55. What To Look For When Buying A Home Security Camera System
  56. 5 Tips for a More Energy Efficient Home
  57. How to Find a Good Contractor for Your Small Business
  58. How to Have the Smartest Home on the Block
  59. How Technology is Changing the Industrial Manufacturing System
  60. Safety Training for your Construction Team
  61. 4 tips to prepare for extended power outages
  62. Why to have a Licensed Electrician at your Beck and Call?
  63. 5 Ways to Create More Data-Driven Content for Business
  64. How Technology Has Changed Industrial Equipment Sales
  65. Why Your Company Needs Operational Risk Management
  66. How Answering Services Work (And Why You Need One)
  67. How to Improve Your Credit Score Fast
  68. 9 Reasons Why You Need a Professional Web Designer
  69. Installment Loans: What Are the Benefits?
  70. The New Year’s resolution you can keep: A more eco-friendly home
  71. How Robots Are Transforming the Cleaning Industry
  72. How to Find a Good Contractor for Your Small Business
  73. How to Build a Strong Promotion Strategy for a Lighting Company
  74. Why You Should Hire a Digital Marketing Expert for Your Roofing Business
  75. 5 Strategies to Take Your HVAC Marketing Online
  76. Mix, match and mosaic: The top interior design trends of 2018
  77. Post-Hurricanes Harvey and Irma – How to Prepare For the Next Storm
  78. Cedar Offers Green Benefits
  79. Hit Reset with a Kitchen Lighting Update
  80. Small businesses have struggled to find funding
  81. America’s finest: 6 luxury home improvement products made in the U.S.
  82. The beauty of barn doors
  83. That ’70s home: 5 trends making a comeback today
  84. Trendy Custom Home Renovation Ideas
  85. 3 Kinds of Dining Room Tables that Never Go Out of Style
  86. 10 Essential Workplace Safety Tips
  87. How to Use Content Marketing in the Mortgage Business
  88. 4 Essential Household Accessories You Need to Own
  89. 10 Mold Solutions to Prevent and Remove Mold from Your Home
  90. How to Use Facebook Ads For Real Estate
  91. What’s In It For Me? The Payoff of Real Estate Online Advertising
  92. How to Seal Galvanized Pipe Fittings
  93. 5 Real Estate Advertising Tools That Can Help You Sell Your Home
  94. Saved from the Grave: How To Fix a Condemned House
  95. Low Maintenance to No Maintenance: 3 Simple Landscape Ideas
  96. 5 Tips for Power Washing Your Home the Right Way
  97. Construction Engineering Site: 5 First Blog Post Tips
  98. 4 Tips to Improve Your Home Improvement Blog
  99. 4 Things to Look for When Hiring Insulation Services
  100. 5 Clever Home Hacks That Make DIY Remodeling Easier
  101. How Solar Thermal Panels Help Schools Save Money
  102. How to Choose the Perfect Kitchen Island
  103. How to Choose The Right Wall Decor For Your Home
  104. Custom Remodeling: What To Know Before You Design Your Kitchen
  105. 7 Signs You Need a Toilet Replacement
  106. Why are Fire Risk Assessments So Important?
  107. Everything You Need to Know Before Moving Into a Tiny House
  108. Why Your Company Needs Operational Risk Management
  109. Social Media Management for Realtors
  110. How Technology Has Changed Industrial Equipment Sales
  111. Things to Look for in a Home Security Camera System
  112. 4 Great Tips For Construction Advertising Online
  113. Types of Replacement Windows: A Complete Guide to Buying the Right Window
  114. Why You Should Hire a Digital Marketing Expert for Your Roofing Business
  115. A Bro’s Guide to DIY for Guys
  116. Why Home Inspection Services Benefit Both the Buyer and Seller
Do the math: Homebuying now may save a lot

Do the math: Homebuying now may save a lot

(BPT) – It is a common misconception that a 20 percent down payment is required to buy a home. Advice to wait and save a large down payment is often based on the theory that the cost of mortgage insurance (MI), which is required when you buy with a smaller down payment, should be avoided. This may not be the best advice and is, in fact, not in line with market trends, considering 60 percent of homebuyers buy with a down payment of 6 percent or less, according to the National Association of Realtors.

Yes, you can qualify for a conventional mortgage with a down payment as small as 3 percent of the purchase price. It is also true that you can reduce your monthly mortgage payment by paying for discount points at closing, but that can be 5 or 10 percent of the purchase price — not 20. And because every buyer’s situation is unique, it’s important to do the math. In today’s market, it could take a family earning the national median income up to 20 years to save 20 percent, according to calculations by U.S. Mortgage Insurers using a methodology developed by the Center for Responsible Lending; a lot can change during that time, in the family’s personal finances and in overall mortgage market trends.

How can buying now save you money later?

Consider you want to purchase a $235,000 home. A 5 percent down payment is $11,750 versus $47,000 in cash for 20 percent down. With a 740 credit score at today’s MI rates, your monthly MI payment would be about $110, which is added to your monthly mortgage payment until MI cancels. MI typically cancels after five years; therefore, you will only have this added cost for a short period of time versus waiting an average of 20 years to save for 20 percent.

With home price appreciation, today’s $235,000 home will likely cost more in the years ahead and this will also have an impact on the necessary down payment and length of time required to save for it. There are other variables in the equation too, such as interest rates. As federal rates rise, so too can the costs associated with financing a mortgage. The savings a borrower might calculate today could be altogether negated by waiting even a few more years. Another factor is that rents are on the rise across the nation, leading to a reduced capacity for many would-be homebuyers to save for larger down payments.

If you decide to buy today with a low down payment mortgage option, it is true that MI is an added cost on top of mortgage principal and interest, but keep in mind that it is temporary and goes away. Again, it typically lasts about five years. Private MI can be cancelled once a homeowner builds approximately 20 percent equity in the home through payments or appreciation and automatically terminates for most borrowers once he or she reaches 22 percent equity. And when MI is cancelled, the monthly bill goes down. Importantly, the insurance premiums on an FHA mortgage — the 100 percent taxpayer-backed government version of mortgage insurance — cannot be cancelled for the vast majority of borrowers with FHA mortgages.

So, do the math and let the numbers guide you. There are many online mortgage calculators that can help. Check out lowdownpaymentfacts.org to learn more.

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