Best Auto Artical

Best Artical

Matt Berna had an unusual tradition of moving to a new apartment every year. The 27-year-old inside sales professional decided enough after doing this for 9 years. "Yeah, I've been moving since I was 18," says Matt, "and I was getting sick of it. I'm really good at packing and moving, though. I've had a lot of practice." Part of the reason Matt moved so often was that he enjoyed getting to know different areas of Milwaukee, Wisconsin. It also taught him which neighborhoods he would like to live in on a more permanent basis."I became very aware of what a smart financial decision it is to buy a home after working in the mortgage industry for three years, "explains Matt. Substatus

So, while living with a roommate, he started hunting house and paid $525 each for rent. Because Matt owns a motorcycle, a house with a garage was a must. Unfortunately, there were older homes in the area he wanted–many without garages. And, Substatus was unwilling to go beyond his price range. Matt did not want to overextend himself as a young first-time homebuyer with student loan debt. He also had not enough to make a 20 percent down payment in his savings. So he decided to apply for a low-payment loan when he finally found his four-bedroom home with a garage and in his price range. His goal was to use private mortgage insurance to put down five percent.