How Much Downpayment Do I Need To Purchase A Property?
A down payment is the amount of money you put towards the purchase of a home. Your lender deducts the down payment from the purchase price of your home. Your mortgage covers the rest of the price of the home.
The minimum amount you need for your down payment depends on the purchase price of the home.
If your down payment is less than 20% of the price of your home, you must purchase mortgage loan insurance.
In this video, I will discuss in further details on how much downpayment do a home buyer need to purchase a property. Check it out!
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