If you are considering buying Palatine real estate it is important to not let the down payment intimidate you. It is nearly impossible to read about real estate these days without coming away feeling like loans are impossible to come by. While it is extremely beneficial to have the funds for a 10 to 20% down payment when trying to buy a Palatine property, it doesn’t necessarily need to be a deal-breaker.
Many lenders do require 10 to 20% down to acquire a loan to buy a home, but there are financing options which require as little as 3% for a down payment to purchase Palatine homes. A variety of private and public lending options could make it possible for home ownership in Palatine Illinois.
Now is an ideal time to buy Palatine real estate. Mortgage rates are low, home values are down, foreclosure properties are available to buy, and larger than normal inventories have created a buyers market. If you have been thinking about buying a Palatine home, and it fits within your budget, don’t let the lack of a substantial down payment run you off without looking into what is available.
Contact me today to learn more about Palatine real estate. I know anumber of lenders in the Northern Illinois area, and have access to information on the real estate process that you may find valuable. Home ownership in Palatine is more affordable than it has been in years, and being educated will help you know if buying a home is right for you.