That's leading to fundamental changes in the housing market itself — such as a trend
toward smaller down payments.
Not exact matches
That's why it can make a significant difference if you make even
small extra
payments toward the principal, or start with a bigger
down payment (which of course translates into a
smaller loan).
If I don't know what book publishing package to order, I would order the «
Down Payment on Book Publishing» option, which applies a
small deposit
toward the package I will eventually choose.
Simple but effective ways to whittle
down your mortgage more quickly are to opt for biweekly
payments instead of monthly, or to use «found money,» like a
small inheritance or work bonus, and put it directly
toward the principal.
Your interest rates come
down, your monthly
payment gets
smaller, and more of your money goes
toward the principal of your debt instead of interest
payments.
That's why it can make a significant difference if you make even
small extra
payments toward the principal, or start with a bigger
down payment (which of course translates into a
smaller loan).
You pay a
small non-refundable option fee that also gets credited
toward your
down payment.