January 17, 2015

Mortgage Down Payment Can Be Smaller Than You Think

By Marcie Geffner - LendingTree.com

Home buyers often think they need a mortgage down payment that's at least 20 percent of the home's purchase price. But in fact, it's possible to buy a home with a down payment that's quite a bit smaller or even with no money down at all.
Both conventional and government loans allow smaller down payments for people who don't have 20 percent or don't want to make a down payment that large.