20% down reduces mortgage payment

20% down reduces mortgage payment The more money you pay upfront, the less you have to borrow from the lender, and the lower your monthly payment will be. Example: Let’s say you buy a$1,000,000 home at a fixed rate of 4.25%. With a 20% down payment ($200,000.00), you’d borrow $800,000.00, and your monthly payment would be $5,160.00. With a 5% down payment ($50,000), you’d borrow $950,000.00 and your monthly payment would be $6,127.00 20% down eliminates private mortgage insurance (PMI) When you put 20% down, that means you own 20% of your home. This allows you to avoid paying PMI, which is a monthly charge that’s rolled into your mortgage payment to protect the lender from what they see as a riskier loan. DNA Realty Group is a full service Real Estate team that provides the highest level of quality service to their clients. When you hire DNA Realty Group to work for you, you don’t just get ONE agent, instead you get an innovative and experienced Real Estate team that will work around the clock to meet all of your Real Estate needs. With so many changes in today’s Real Estate market they have the knowledge and confidence to navigate the current market environment. Area Market Report By DNA Realty HOMES and TOWNS BY DNA Realty Group #BUY --- https://www.dna-realty.com/buy/ #SELL --- https://www.dna-realty.com/sell/ #dnarealtygroup #massachusetts #massachusettsrealestate #marealestate #nhrealestate #newhampshire #newhampshirerealestate #buy #sell #build #newconstruction #invest #home #luxury https://www.dna-realty.com/ DNA REALTY GROUP617-340-9135 [email protected] https://www.dna-realty.comOver $127,726,638.81 in REAL ESTATE SOLD #bostonma #bostonrealestate #bostonmarealestate