This presentation conveys two approaches to paying for a house. Financing with a mortgage and self-financing by paying cash. |
Let’s talk about a few of the basics when it comes to determining a strategy in how to pay for a house. First, the most common approach is to use a mortgage. In order to buy a house with a mortgage, you need to save up for a down payment. Then find a house and go into escrow. To close escrow and gain ownership, you’ll need to drain your savings account to cover the down payment. And, you’ll need to qualify for a mortgage to pay the balance. |
No math presented on this screen. |