Buying a home with less than 20% down payment

If you are searching for your first home, you have probably heard that you must have a 20% down payment if you want to buy a home.  In today’s economy, it is difficult for new buyers to come up with that much cash.  However, there are homebuyers that are getting loans with less than the traditional 20% down payment.  First time homebuyer’s programs, FHA loans and private mortgage insurance are a few ways that new homebuyers are getting around the traditional 20% down payment rule.

For more read, “How to get a mortgage with less than 20 percent down.”