The Best Ways to Lower Your Down Payment
There are several ways to lower the down payment on a house.
The down payment on a home is usually around 20 percent of its sale price. That is a significant chunk of cash for many borrowers, but there are several ways to lower or even eliminate your down payment.
The most common method is with private mortgage insurance, or PMI. This will add a small amount to your monthly mortgage payment, but will reduce the amount needed upfront.
If you're planning on buying a new home, contact your local Vectra Bank for loan information.