Follow Us: Google+
 
Bankrate.com

debt

7 safe borrowing tips to keep debt in check

Make a big down payment
Next
4 of 11
Back
Make a big down payment

The two decades leading up to the mortgage crisis saw a loosening in down payment requirements for mortgage loans, from a standard of 20 percent to as low as zero down.

There's a reason those requirements were there in the first place, and why they remain a sound idea, Feddis says.

"Down payments show you've got skin in the game. They also show that you can better withstand downturns in the real estate market, which invariably happen," she says.


 

 

advertisement

Show Bankrate's community sharing policy
            Connect with us
Compare Home Equity Rates



advertisement
Most Read
  1. 10 ways to turn off a homebuyer
  2. No more Social Security at 62?
  3. What TV homes cost in real life
  4. 5 frugal ways to expand living space
  5. Naughty things credit card won't buy
  6. What it takes to remodel kitchen
  7. Danny Bonaduce's house for rent
  8. Bruce Willis' house for sale
  9. 12 meanest cars for the environment
  10. Celebrity estate planning mistakes
Home Equity Averages
Product Rate +/- Last week
$30K HELOC
4.99% 4.99%
$30K home equity loan
6.19% 6.17%
$50K HELOC
4.55% 4.52%
$75K home equity loan
5.91% 5.93%
View rates in your area:
Your condo can change hands with a quitclaim deed. But it can be tricky with a mortgage.
advertisement
Partner Center
advertisement

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.