Spirit of St. Louis – Pick Your Charity, Pick Your Car

Groundwork Mortgage answers questions on loans, down payments

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

ST. LOUIS, MO (KTVI) – According to a Market Date report, home values are rising in the St. Louis area, which means good news for homeowners who see their property value increasing. For those thinking about or actively looking for a new home, questions about loans and down payments may arise.

Down payments are a certain amount of money a buyer puts down to invest in the purchase of a new home; it is a portion of the purchase price. Groundwork Mortgage suggests if you are interested in buying a home, individuals should consult with a licensed mortgage professional regarding options, loan programs, costs and payment plans.

President of Groundwork Mortgage Jeff Berger joins us to answer questions about mortgage loans and the rise of the housing market.