January 4th, 2018 11:36 AM by Sam Kader
One of commonly believed myths in buying a house is that you have to have 20% down payment. Though we prefer if you have 20% down to avoid paying for Private Mortgage Insurance (PMI), you can buy a house with as little as 1% down payment.
Here's more information on the HomeReady Program:
Essentially, the program is 97% financing with DPA program contributing up to $5,000 towards down payment. For example:
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