The Marquee Loop: Mortgage Myths

Mortgage Myths: Separating the fact from fiction

The MYTH: You need to put a 20% down payment to purchase a home

The FACT: Not True, depending on the type of loan, the minimum down payment options are:

  • VA- Zero down payment required
  • Conventional First time buyers (those who haven’t owned a home in the past 3 years)- minimum down payment of 3%
  • Conventional- minimum down payment of 5%
  • FHA- minimum down payment of 3.5%

Follow our Blog weekly to gain more insights on Mortgage Myths. Contact one of our Loan Officers today for a free consultation.

*Marquee Mortgage LLC, is an independent, full service broker specializing in purchase money loans, refinances and creative lending solutions.