Mortgage Lenders Financial Network: Mortgage Lenders

 

 
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Down Payments

Traditionally, the biggest obstacle to buying a home with mortgage financing is obtaining the down payment funds.

In the past, mortgage lenders required at least 20% down. Today, Goverment Insurance programs and Private Mortgage Insurance make low down payments possible. In some instances, local and state agencies will provide down payment assistance in the form of a loan or grant.

How to qualify for a low down payment?
Do not assume that you can obtain a low down payment loan. Lower down payment loans may require stricter credit and income in your application file.
What makes low down payment possible?
Low down payment loans are not as easy and common as they seem. Be thankful for low down payment loans.
Can I Obtain a loan or gift for my down payment?
Several options are available to you including some new innovative programs like the FHA Bridal Registry
What is Down Payment Assistance?
Local and state agencies may offer down payment assistance programs to help with a down payment for your home. Warning, it takes some extra work.

State Housing Authorities
A list of state housing authorities. A great starting place to investigate down payment asssistance programs in your state.