Andy Hodes & The Scenic City Team consistently rank in the top 1%* of Chattanooga realtors by the Chattanooga Mulitple Listing Service!
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First Time Buyers >The Down Payment
Perhaps no single decision in a real estate purchase has more variables than "How much money do I put down?" Conventional wisdom centers around either putting down as much as you can or as little as the lender allows.
If you put down a large payment, you get some leverage with the lender, such as little or no mortgage insurance, a good equity position, and perhaps a preferred mortgage deal. You will also have lower mortgage payments. One potential disadvantage of a large down payment is that you will be using after-tax dollars on which you could be earning interest. You will also have less tax-deductible interest.
When you buy a home with a low down payment, you will have more tax deductible interest, and your investment value percentage will increase faster. You will have little equity at the outset, and your monthly mortgage payments (and perhaps your interest) will be higher. However, you will also keep more of your own money in hand to potentially earn more interest in other investments.
What is arguably the world's strangest (and most dysfunctional) kitchen?
A
In 1998 the Kemper Museum of Contemporary Art in Kansas City first displayed a kitchen made entirely of 40 million colored glass beads by artist Liza Lou of Topanga, California.
Andy Hodes & The Scenic City Team Keller Williams Realty 1200 Premier Dr., Suite 140 Chattanooga, TN 37421 423-664-1822 Fax: 423-664-1820 andy@andyhodes.com
Thank you for visiting my website and I hope you enjoy learning about what Chattanooga has to offer. It is one of the most beautiful cities in the Southeast. I am licensed in both Tennessee and Georgia. Please feel free to contact my team at anytime, we are here to assist you in your specific needs. I grew up in Chattanooga and moved away after college. When I married my wife, we decided to move back to Chattanooga to raise our family.
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