Thursday, April 21, 2022 / by Steve Ticknor
Which Down Payment Strategy is Right for You?
The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance (PMI) for years. The lower your down payment, the more you pay. You’ll also be offered a lesser loan amount than borrowers who have a 20% down payment, which will eliminate some homes from your search.
The national average for home appreciation is about 5%. The appreciation is independent of your home p. ...