Utah Gold can also reduce the out-of-pocket downpayment
required from qualified borrowers to as little as $500.
Natoli signed the contract and delivered it, together with her personal check in the amount of the required downpayment
The remaining downpayment
funds can come from flexible sources including gifts, grants or employer contributions.
An independent study released today said that no matter what the downpayment
gift source, about 5 percent of all mortgage loans guaranteed by the Federal Housing Administration come back to the agency as claims against its insurance fund.
Fleet Affordable Advantage(SM) Mortgage - requires a downpayment
of just 3 percent for one-unit properties.
INDIANAPOLIS--(BUSINESS WIRE)--March 15, 1996--The Indiana Housing Finance Authority is offering downpayment
assistance to help low-income Hoosiers buy their first home, Lt.
homeownership is the difficulty in amassing downpayments
The Low Down Easy Loan is especially perfect for these buyers because little money is required up front; this mortgage offers the lowest downpayment
possible and the ability to finance the closing costs.
Private mortgage insurance is generally required by lenders on conventional first mortgages made to home buyers who make downpayments
of less than 20 percent of the purchase price.
The required downpayment
will be 3 percent of the home's price, compared to usual downpayments
of 10 to 20 percent.
2 percent of Freddie Mac's first-time home buyers bought their homes with downpayments
of less than 20 percent, while more than 24 percent of first-time homebuyers made downpayments
of less than 10 percent.
Both repeat and first-time homebuyers entered the California housing market in 1993 with smaller downpayments