If you think that you lack money for a down payment, think again. In this chapter, Mortgage Secrets explores many ways to get over, under, or around the problem of too little cash. But it also reveals how little- or nothing-down mortgages can seriously increase the costs of your financing. Fortunately, Mortgage Secrets suggests techniques that can alleviate or even eliminate these costs.
Of course, just because you can buy with little or nothing down doesn't mean it's wise for you to buy. Financial discipline must precede property investment. If your lack of cash results from a spend and borrow, no need to worry attitude, shape up your finances before taking on more debt— even if it's constructive debt. Little or nothing down works best for people who manage their money well and/or those who want to consciously use leverage to maximize their wealth building. If you fit either of those descriptions, here's the good news.
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