A big perk of putting a 20% down payment on a home is that you will not have to pay mortgage insurance. A common misconception is that you HAVE TO PAY 20% for this benefit.
An appraisal is not required, so you don’t have to worry about an appraisal coming in low and killing a deal. For more on HomePath, CLICK HERE, or call us if you have any questions (813.707.6200).
Take HomePath financing, which allows home shoppers to buy a Fannie Mae foreclosed home with only a low down payment on a conventional loan. Besides the buyer’s own personal funds, some of the down payment can come in the form of a gift, a grant or a loan from a nonprofit organization, state or local government. […]