In a conventional home loan, a down payment of 20% or more typically allows you to avoid private mortgage insurance (PMI). However, if your down payment is lower, you can still qualify with as low as 3%, depending on your credit profile.
Once you reach 20% equity in your home, you can eliminate the PMI. To find out more about how down payments and PMI work with a DSLD Mortgage, talk to one of our Loan Officers for tailored advice.