Do I Really Need 20% Down on a Home Purchase Loan?
Posted On: April 27, 2020 by Prevail Bank in: Home Loans
What is a Down Payment?
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Saving enough money for a down payment on a home can be challenging. This is one of the largest issues many homebuyers face when applying for a mortgage loan. A down payment on a home is simply a percentage of the total cost that a buyer has to pay up front.
How much is required as a Down Payment?Minimum down payments are typically based on three sets of criteria; the type of mortgage, the lender, and your financial situation and history. Depending on the...
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