X

It's a question almost everyone is asking: "Should I refinance my mortgage?" If so, what's the best way to pay for my mortgage refinance

It's a question almost everyone is asking: "Should I refinance my mortgage?" If so, what's the best way to pay for my mortgage refinance

What is the down payment required to get a mortgage these days?

Q: What is the down payment required to get a mortgage these days?

A: While some 100% financing may be available (no money down) for special circumstances, most borrowers can still put as little as 3.5% down and sucessfully purchase or refinance a home. To do so, you'll need an FHA-backed mortgage, available virtually everywhere. You can get a Fannie Mae or Freddie Mac loan with as little as a five percent downpayment, but you will need a mortgage insurance policy; depending upon your credit strength and the kind and location of the property you are looking to finance or refinance, these can be a challenge to come by with only a little money down.

Ask the expert
Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President, HSH.com
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
Submitting your question...

Question received! Check back later to see if your
question gets published.

Q: Can I get forbearance for my mortgage?
MAY 19, 2020
A:

The answer is "possibly." It depends on the situation.

Read More
Q: Is mortgage insurance tax deductible?
JAN 08, 2020
A:

Tax deductibility for PMI premiums or MI premiums for FHA loans has been an on-again, off-again kind of thing. For 2019 and 2020, it's back on.

Read More
Q: How many times can I use my VA home loan?
OCT 31, 2019
A:

There are three ways you can restore your VA eligibility so that you can take advantage of it more than once.

Read More
Add to Homescreen?
X
X
Install this web app on your phone :tap and then Add to homescreen