Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Is Saving for a 20% Down Payment a Wise Pursuit?
If you're a home buyer and are unsure if you should buy a home now with less than 20% down or wait until you have the funds for a conventional 20% down purchase than you should read this post from Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi :
 
 
 
Is Saving for a 20% Down Payment a Wise Pursuit?
 
Well ... that depends ...
 

Listen, I'm not trying to be evasive or cute with my answer here. 
 
By nature ... and because I'm a Mortgage Originator ... I'm typically a huge proponent of saving money.   As a rule, I firmly believe that budgeting resources and saving money should be a major focus and goal.  So saying, "it depends", cuts a bit across the grain for me.
 
But as the old saying goes, "there is an exception to every rule" ...  
The "exception" in this case, revolves around the myth supporting the absolute need for a 20% down payment when buying a home.  Take note that I said myth.  
Despite the number of times I (and others) have denounced this myth, it prevails.  But the myth is not true or valid.  
What is true:  Currently, home buyers can buy with far less than a 20% down payment.  Options for 3%, 3.5%, 5% ... more

__________________________________________________
Are you on The Rain? Grow Your Network!