As a long time Bend Oregon Real Estate Agent, one of the most common Real Estate Questions that my clients have asked is this: “where can my down payment funds come from?”

The answer to this question is pretty easy: your down payment funds can come from a variety of resources including cash that you have saved in your bank, from your 401(k), IRA or from a property that has equity which you plan on selling.

Have a financial plan in place

Although buying a home might seem a little bit intimidating when you consider the funds that you have to come up with for a down payment, it’s actually not as complicated as you think especially if you follow a financial plan that you’ve established before you start your own search.

Your financial plan should be your strategy for getting all the money that you need for your down payment including funds that you might eventually need for paying: closing costs, home inspection fees, property taxes and homeowners insurance.

Talk with a mortgage lender

Instead of starting the journey of purchasing a home on your own, the best place that you should start is by consulting with experienced mortgage lender who can guide you through the process of establishing a financial plan.

Your mortgage lender will also be able to tell you exactly how much of a mortgage you qualify for just so that you don’t make the mistake of submitting an offer on a home that you cannot afford.

Real Estate Questions Answered Here 

For more answers to common Real Estate Questions that you might have or to view homes for sale in bend, contact me today by calling: 541-383-1426.

If you found the tips in this article helpful please consider sharing it with your social media friends and followers.