“NO, You Don’t Need 20% Down!”

By
Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

    “NO, You Don’t Need 20% Down!”

 

 

 

 

We are blown away by the misinformation we have been living with for years. How foolish on our part, thinking that we need 20% down to purchase a home. We would not have known any better if we hadn’t read one of your blogs, thank you thank you!

I hate to tell you how many friends we have that think the same thing. We will be sending all to you as well.

 

 

I have written about this topic so many times. I am constantly amazed when I interact with folks who think they need 20% down to purchase a home. In fact, there are mortgage programs available that require NO money down, VA & USDA. FHA requires 3.5% down and conventional mortgages as little as 3% down.

 

Posted by

Subscribe to my blog via Email:

 

Enter your email address:

Delivered by FeedBurner

 

Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

Like me on facebookfollow me on twitterConnect with me on linkedin

Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Location:
Connecticut
Groups:
Mortgage Solutions
Connecticut Professionals
Tags:
down payments

Spam prevention
Show All Comments
Rainer
632,562
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Its all mis-information floating on the internet!

We didn't need 20% down for owner occupied loans as far as back as I could remember.  I don't know who is spreading this false info

Nov 20, 2020 04:05 AM #1
Rainmaker
3,848,451
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Joe. For those who got a conventional loan in the early 70's maybe true. Then PMI said 15%, then 10% and finally 5% down would be ok. And, even back then FHA and VA blew that out of the water. How old do you have to be to remember? Enjoy your day!

Nov 20, 2020 04:23 AM #2
Rainmaker
3,205,762
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Who the heck are these people listening to that think they need 20% down to purchase a home?

Nov 20, 2020 04:36 AM #3
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
2,378,112

Joe Petrowsky

Your Mortgage Consultant for Life
What mortgage questions can I answer for you
*
*
*
*

Additional Information