Pro: Save on mortgage costs initially -- a great option if you don't plan on living in the home long. Con: Plans sometimes change. If yours do, you will have to pay off or refinance the balance, which takes time, effort and more closing costs.
Pro: Reduces monthly payments and saves money on closing costs. Con: Sellers charge more for houses, so buyers need more cash to cover the difference between the asking price and loan balance.
Mortgage rates giving you motion sickness?
Let us watch for you. We'll tell you when they hit your target.
