Down Payment Requirements

Here are the latest down payment requirements for mortgages in the US:

Primary residence (your main house):

• 3% for conventional loans
• 3.5% for FHA loans
• 0% for VA loans

With primary residences, you can get a gift from a relative to cover the down payment!

Second homes (a second home that you do not rent to others):

• 10% for conventional loans

Investment properties (houses that you rent to others):

• 20% for conventional loans

  

Getting a loan approved is easy - if you know what to do.  The Mortgage Experts know what to do!!!

Make sure you check out our web site:

www.mtgsupportservices.com

By the way, don't forget to refinance your current mortgage.  Rates are very, very low right now.  Don't miss out!  Call us today to get the details for your particular situation.

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