Rocky River Ohio Happy Customer!
"Thank you so much to Greg Erlanger and The EZ sales team as I searched for my first house. Although, I thought I knew what I wanted, they helped me open my mind to many different opporunities, allowing me to know I was making the right decision when I found the right place. When I first saw my house in Rocky River, Greg put a lot of extra effort into making sure I had the best opportunity at actually getting it. In a now changing market, Greg knew we had to act fast and put in the long, late hours needed, walking me through everything and getting everything ready for me to make my offer. He was absolutely incredible throughout the entire process. It is because of his dedication and love for what he does that got me my house and I can't thank him enough for that."
Bridget Body - Rocky River, Ohio
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Financing Your Home >Your Financial Cushion
When you calculate how much you will need to purchase a home you will add up the down payment and closing costs. It is also a good idea to leave yourself with some financial cushion to cover the incidental expenses associated with moving.
First, you will have to pay the moving company unless you can find friends with strong backs who will help you. Then many buyers plan to do some work, such as painting, replacing carpet, or refinishing floors. If you are moving into a larger space, you may find yourself making some major furniture purchases within a few months of closing.
A financial cushion is important enough that some lenders require buyers to have an amount in the bank equivalent to two or three months mortgage payments. This is especially true for buyers who are putting less than ten percent down. Your real estate agent can give you guidance. A lot depends on your overall financial situation. If your mortgage is a relatively low percentage of your monthly income, you will be able to rebuild a comfortable amount of savings in a few months.
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| Q |
What is a VA home loan?
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| A |
The Office of Veterans Affairs guarantees small or no-down payment mortgage loans made by lenders to U.S. veterans. |
 See More Real Estate Trivia > |
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