Saving, Managing Debt, and BudgetingMortgages |
How does increasing my down payment help protect me from going “underwater”? |
Increasing your down payment provides some protection to you because if you put more money down to purchase the house, you owe less money on the mortgage in the future, and when it is time to sell, you will be able to sell at the market price with less risk of owing more than the house is worth.