IS 20% DOWN THE BEST OPTION? HERE ARE SOME THINGS TO CONSIDER

For years, the "gold standard" in home buying has been putting 20% down. This is because it allows you to avoid paying for private mortgage insurance and results in a smaller loan amount with lower monthly payments, which can ultimately save you money in the long run. However, with home prices skyrocketing in recent years, not everyone can afford to put down such a significant amount of money. This begs the question: what are the pros and cons of putting 20% down on your next home purchase?

HOW TO PROFIT FROM BUYING A HOME NOW DESPITE RISING RATES

As mortgage rates continue to climb in recent weeks, many prospective homebuyers are apprehensive about proceeding with their search. However, this may present a unique opportunity to finally secure the home you've been eyeing. With fewer buyers in the market, there may be reduced competition, allowing you to potentially snag your dream home.

Data from the Mortgage Bankers Association (MBA) shows that mortgage applications have dropped by 13.3% in just one week due to rising rates. While this may discourage some from continuing their search, those who persevere may be able to capitalize on the current market conditions and secure their ideal property.