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Can I Purchase a New Home in 2019 Without Worrying That My Mortgage Will Become Upside Down?

Yes as long as you purchase wisely.

  1. I would not suggest a zero down loan if you are concerned about being upside down in the short term. If you qualify, get a down payment assistance grant so you can put more down up front.

  2. Use an experienced and qualified Realtor who can negotiate a good deal for you. Many sellers are trying to predict price increases by over pricing now. You don’t have to pay asking price. A good Realtor should analyze the market and be able to negotiate a good deal for you.

  3. Don’t get emotionally attached to a specific house. People over pay when they get emotionally attached to a specific house.

  4. Consider a fixer-upper. The work you do will build equity into the home so you won’t be upside down.

I haven’t heard any analysts predicting a big price drop like the one that occurred when the housing bubble burst in 2008. The most likely prediction seems to be a leveling off of the price increases that have been happening since the recovery. Without a price decrease, you wouldn’t be upside down.

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