With the housing bubble burst, the real estate market has returned to a “back to basics” mentality. The days of creative financing and piggyback loans are over. The credit bar has been raised and there are more obstacles to overcome in making a purchase. Cash is still king. The trick is to balance the amount of your down payment with a reasonable monthly mortgage payment. Depending on the size of the down payment, you can generally expect to pay between .75% and 1.15% of the purchase price for your monthly … [Read more...]