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Egg Harbor Township, NJ
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TUCKERTON, NJ
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LITTLE EGG HARBOR Township, NJ
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Finding Affordability in Lessons of the Past
In the 1980s, home buyers faced significantly higher mortgage rates compared to today's market. Despite this challenge, many people successfully purchased homes and made them worthwhile investments. They employed a range of strategies to manage costs and ensure affordability. Here are the key tactics they used, explained in detail:
To reduce the amount borrowed and thereby lower monthly payments, many buyers saved for larger down payments. By putting more money down upfront, they could decrease their loan-to-value ratio, often securing better interest rates and reducing private mortgage insurance (PMI) costs.
Strict budgeting was essential. Buyers meticulously planned their finances, cutt…
Harry Disbrow
Coldwell Banker Riviera Realty/The BayShore Team- M:
- 609-226-6270