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What is the minimum down payment required for a mortgage?
Posted : 28/04/2024 4:39 pm
The minimum down payment for a mortgage varies by loan program. The minimum down payment for a conventional mortgage loan is usually 20% of the home's purchase price, but some federal agencies offer low- or no-down payment programs. For example, the Federal Housing Administration (FHA) offers FHA-insured loans that require a minimum down payment of 3.5%.
Posted : 30/04/2024 5:45 pm