Rather than avail themselves of the immediate opportunity for
homeownership afforded by the Downpayment Finance Program, many people
prefer to save the downpayment themselves. Often this is misguided, however,
because it generally takes a lot longer to save a downpayment than anticipated
- sometimes years. In the meantime, the market is passing them by. The
following chart illustrates just how costly waiting to save a downpayment
can be. But why wait, when you can purchase a home today using the 100%
Program?
Cost of Waiting Analysis:
| Today's Price | $200,000 |
| Annual Appreciation | 3% |
| Downpayment (DP) | 20% of Sales Price |
| Closing Costs (CC) | 4% of Sales Price |
| Current Value | DP +CC | Appreciation Loss | |
|---|---|---|---|
| Today |
$200,000
|
$48,000
|
0
|
| 1 Year |
$206,000
|
$49,440
|
$6,000
|
| 2 Years |
$212,180
|
$50,923
|
$12,180
|
| 3 Years |
$218,545
|
$52,450
|
$18,545
|
| 4 Years |
$225,101
|
$54,024
|
$25,101
|
Qualification Requirements | Property Guidelines | Tax Benefits
Cost Of Waiting | Rent To Ownership Comparison
Prequalification Form | Required Disclosues
Realtor Referral Program | Mortgage Broker Area | Company Profile
Contact Us | Realtor Area | Return Home
Copyright 1996-2005 The Downpayment Company. All Rights Reserved.
The mortgage financing described herein is available
for properties located in California only.
Designed, hosted and maintained for The Downpayment Company by
...when it's time to establish an Internet presence.