How much of a down payment do you need to own a home?

Most mortgage brokers and realtors will tell you that to qualify for a conventional home loan, be prepared to have a 20% down payment.  However, the housing market has changed drastically during the past decade and this is not necessarily the case any longer.  Today, homebuyers may be able to purchase a home and qualify for a home loan with as little as three to five percent down while some may even be able to finance the entire sales price.

Read “Smart alternatives to putting 20 percent down” for ways you can close on a home without a 20% down payment.

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