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Is a Bigger Down Payment Always Better?
 When you’re buying something major with a loan, namely a house, you likely need a down payment. A down payment covers part of the purchase price.
Your down payment plays a role in whether you are approved for a mortgage at all. Down payments also impact your interest rate and the borrowing costs throughout the life of your loan.
Your down payment usually comes from your savings. The down payment should be a percentage of the total purchase price, and then you pay off the rest of the loan by making installment payments.
If you’re buying a house for $200,000 and want to make a 20% down payment, it’s $40,000.
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MORTGAGE RATES
U.S. averages as of June 2022:
30 yr. fixed: 5.1%
15 yr. fixed: 4.31%
5/1 yr. adj: 4.2%
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You would pay that when you close on your home loan. Then, you’re actually only borrowing $160,000.
There are arguments to be made both for and against
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Comparing a Pre-Approval and Pre-Underwriting
 When you’re shopping for a new home, there are a lot of steps in what can be an overwhelming and frustrating process.
Much of that frustration comes from getting mortgage financing.
Before you start to look for a home, you might decide to get pre-qualified or pre-approved. There’s also the option to go through pre-underwriting. When the housing market remains competitive and bidding wars are common, there are some benefits to pre-underwriting, which we detail below.
What is Pre-Qualification?
Pre-qualifying for a loan is a single step on your way to a pre-approval. Pre-qualifying is part of a process when you work with a lender, and they decide the type of guarantee they will
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How to Stock Your Airbnb
 When you own a short-term rental, your ultimate goal is to increase the occupancy as much as possible, meaning more revenue. You need to build a strong reputation and have great guest reviews to do this.
Impeccable guest reviews mean your listing is honest and transparent, so they know what to expect. You also want to go the extra mile to make their experience great.
While an Airbnb experience is different from staying in a hotel, you still want your guests to have what they need. There’s no requirement that you have to stock a short-term rental with hotel-like amenities and supplies, but not doing so could be disappointing, and your reviews and ratings could take a hit.
When you supply what your guests needs, it’s an upfront cost, but often not a major one, and it can easily pay for itself and then some.
So what’s most important to the
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Peet Law Group
55 Patchen Road
South Burlington, VT 05403
3533 Woodstock Road
White River Junction, VT 05001
800-683-3903 (toll free)
office@peetlaw.com
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Meet Our Real Estate Law Team
Attorneys:
Fred V. Peet
Richard C. Maxson
Christopher M. Perra
Kevin J. Shortell
Paula LeBlanc
William Flender
Eric Derry
Paralegals/Legal Assistants:
Doreen Guthrie
Sherry Morin Barton
Amy Benway
David MacPeek
Shawn A. Nelson
Karen Eddy
Elise Martin
Marcy Brigham
Sheri Slack
Linnea Oosterman
Samantha Kittredge
Kristy Farnham
Carol Davis
Kate Miller
Corrine Bergeron-Douglas
Katherine Peranio
Closing Coordinators:
Katy Baker
Laura Martin
Daily News and Advice
Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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