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How Much Down Payment Do Home Buyers Need?

As the obstacles to owning a home become more pronounced in the wake of the housing bust, how much money should homebuyers set aside for a down payment? Unsurprisingly, cash is still king in today's market, especially as mortgage lenders raise the bar for credit worthiness.

That said, down payment options range from zero dollars all the way up to 20 percent and beyond. The trick is to keep your monthly mortgage payment to a reasonable amount now, without breaking the bank later.
  • May 02 2013 - Santa Fe
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Answers (1)

Profile picture for Robyn Nasuti
 The more down payment you have the stronger your offer becomes. You can find loans with no money down, but be careful of private mortgage insurance. You should set up a meeting with a local mortgage lender in your area to discuss your options. They will look at your credit score, debt ratios, and help you find the right mortgage.
  • May 02 2013
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