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Everything to get you started
on that dream home and so much more.
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Having a Security Blanket (Home Equity)
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I recently had a discussion with a man I am building a new home for. With the money he is putting towards his down payment, combined with the good price I gave him, he will have over 20% equity in his new home. I suggested setting up a home equity line of credit. If he closes on the Home Equa-Line at the same time as his long term, it will cost him nothing extra. If he chooses not to take any money out, he will just have a $40 a year fee. This is according to a loan officer at M&T Mortgage www.mandtbank.com
I told him it is important to get it set up, in the event something were to happen to him or his job, he would have a nice safety net. If he were to wait to get it set up, and something hap Read more
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