Being qualified for a destination-simply financial

It might seem you to definitely home financing that have a lesser very first down percentage is better to be eligible for for a passing fancy income, but that is not at all times the outcome. In reality, particular loan providers might have a lot more stringent standards.

As costs consistently creep upwards, as home values always creep upwards, interest-only funds be more out of a cost alternative, yet not as the an excellent crutch to qualify, claims Dallal, as the we still qualify anyone since if it actually was an excellent 30-12 months percentage. Continue reading →