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How much do I need for a down payment?

March 1st, 2017 6:17 PM by Kenneth E Morley

Right now you could get into a new home for as little as 1% down. This is a conventional loan for a primary residence, not FHA, so there is no upfront HUD premium of 1.75%. Essentially you contribute 1% and the lender contributes 2% giving you a total of 3% equity. There is even an option with no monthly mortgage insurance. Its an exciting new option for just about anyone looking to buy a new home.
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Posted by Kenneth E Morley on March 1st, 2017 6:17 PM