Do I need 20% down if the value of my home is more than I am paying?I am looking to purchase a short sale home that is valued much higher than the purchase price. Do I still need 20% down on the loan to avoid mortgage insurance or is it based on assessed value vs. loan value?March 01 2009 - Vancouver00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.