Purchasing a home is an exciting and sometimes intimidating process. When you decide to commit to this major investment, saving for a down payment is one of the first steps toward homeownership.
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Supplying a larger down payment will make you a more qualified candidate when you apply for a home loan through a lender.
Try to save somewhere between 5 and 20 percent of the selling price of the home you want to purchase. If you decide to provide less than 20 percent, you will need to also pay mortgage insurance.
Thank you for tuning in and learning a little about down payments.