HowTo - Using a Gift to Jumpstart Homeownership

pt. 2:

I am an Air Force veteran turned mortgage professional who has a passion to bring home financing knowledge to military personnel in active duty, reserves, guard, or veterans. I believe the military can set you up for financial success if you know how to take advantage of what is offered.

For most people buying their first home, scrapping together enough money is the hardest part. And in this housing market where you may have to make 5 or 6 offers of houses - that's saying a lot. A lot of these houses will be 300 to 400 thousand dollars. For example, a very humble downpayment of just 5% will come out to $15,000 dollars for a $300,000 house. And remember, that doesn't include the thousands of dollars for other expenses on top of that! This can become quite the challenge for younger aspiring homeowners trying to get into their first home and start building real estate wealth!