Why money down? - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - Page 3 - City-Data Forum

VictorBurek · 10-29-2009, 12:24 PM

Some of the best performing loans are VA loans which still allow for 100% financing. The main cause of the mortgage mess was lenders easing up guidelines. They were allowing people with 580 credit scores to do stated income stated asset loans to 100%.

Josh Harmatz · 11-03-2009, 04:07 PM

FHA Requires 3.5% Down. If you have more available funds to put down of about 20% you would be able to qualify for a Conventional Loan and avoid paying mortgage insurance. You would also qualify for a better rate assuming you have excellent credit. Check and compare all the options that are available for you and see which saves you most.