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Is a small down payment better than no down payment?
By admin | December 29, 2008
We can’t afford to make the 20% down payment recommended to get the lowest interest rates on mortgages. We are trying to figure out whether the small down payment we can afford would make enough of a difference to be worthwhile, or rather we should just save this money for the expenses associated with buying a new house. Will a small downpayment make it so the mortgage London banks offer us will have a better interest rate than getting 100% financing? Where can I find out more about how different sized down payments affect interest rates for home mortgages? Is there a good website for this?
Topics: Business |