A common question for most prospective buyers is how much down payment is required to secure a home. Well, there’s no standard answer to that question.
However, the common answer that one will come across often is a 20 percent down payment. But for those who are well qualified, they might be pleasantly surprised to learn that they can pay a down payment of as little as 3 percent with some loan options.
A lender will be able to guide a prospect with all the pros and cons of every loan choice that they may want to settle for.
Interactions with a mortgage lender are often very enlightening and shed light on the importance of matters like credit score and credit history. They also are instrumental in walking one through the process of becoming a homeowner started.