homepossible mortgage: Low Down Payment Mortgage Options
- 09/29/15 04:21 AM
Saving up money for a large down payment on your mortgage is no longer the norm. Most homeowners and first time home buyers in Florida use the FHA mortgage loan that only requires 3.5% down but there are also conventional loans that compete with FHA. It is a myth that you have to put down a large down payment to get the best interest rate. The interest rate on an FHA loan will be the same regardless of your down payment. First time homebuyers can now also use Fannie Mae’s “My Community” mortgage and Freddie Mac’s “Home Possible” mortgage with down payment … (1 comments)
Saving up money for a large down payment on your mortgage is no longer the norm. Most homeowners and first time home buyers in Florida use the FHA mortgage loan that only requires 3.5% down but there are also conventional loans that compete with FHA.
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