Low Down Payment Mortgage

Committing to a mortgage can be nerve racking at first given the hundreds of thousands of dollars usually involved. It can be worse when you realize how much money you need to come up with for a down payment. The traditional 20 percent down payment represents a lot of money, say $80,000 on a $400,000 home. The low down payment mortgage is your best option to get around this problem. FHA and VA loans can have a three percent or less down payment requirement. On a $400,000 loan, that equates to $12,000 – a bit lower than the traditional $80,000 down payment!