Good morning, Jodie Tanga here with your Mortgage Minute. Today's topic, low down payment options. When purchasing or refinancing, having 20% down payment or existing equity is favorable, however, most people don't have 20% down payment or equity. Don't let that stop you from taking advantage of these historically low interest rates.
There are options as low as zero down, although those loans are location specific. The next step up would be 3.5% down—which is possible to get with no monthly private mortgage insurance. The truth is, there are so many creative options available with low down payments, the most important factor would be getting the ball rolling now to educate yourself on the possibilities.
For more information on low down payment options call us at the Tanga Mortgage Team powered by Pacific Rim Mortgage at (808) 223-2761 or visit us on the web at www.pacrimmtg.com.
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