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Financing Your Home >Home Buyers Education
As the number of mortgage lenders increases, competition forces lenders to get more creative in finding ways to lend people money. This often takes the form of giving homebuyers a "break" in the down payment. The downside of this approach is that statistically, the smaller the down payment, the more likely the borrower will default. Lenders have put together an education program to prevent delinquencies, which fills a much-needed gap in the increasingly complex world of home finance.
Home buyer education classes focus on a variety of money management topics, including all the costs connected with obtaining and owning a home. One lender got together with FANNIE MAE (a government-sponsored loan guarantor) to launch a 3 percent down payment loan which requires participation in this education course. Other lenders have shown a decline in the default rate with five percent loans that are associated with similar education courses.
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| Q |
What are the financial benefits of having a home near a body of water?
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| A |
The mere presence of water within 300 feet increases a home's value by 22 percent. |
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Mike Lombardo
C21 Sunbelt
506 SW 47th Terrace
Cape Coral, FL 33914
English: 239-898-3445
Español: 239-898-3795
Fax: 239-443-2473
Mike@mikelombardoteam.com
I am selling property and I want to sell yours. You may have been told that the real estate news in our area is gloom and doom. “I have heard there is a recession, but I have decided not to participate.” I want you to know that I am selling and I want to help you sell your home. Call me or email me at (239) 898-3445 or Mike@MikeLombardoTeam.com   
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