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Don’t have 20% to put down? No problem!

There is a common misconception that homebuyers must have 20 percent to put down on a home in order to qualify for a mortgage. In reality, there are many tenant guarantor loans programs that don’t require the full 20 percent, which Craig Berry explains in a blog post on The Mortgage Reports. What is a Down Payment? A down payment is a percentage of the home sale price that a lender requires the homebuyer to pay from reserves, rather than finance. Down payments can come from a bank account, a stock fund, an inheritance or a retirement portfolio. In some cases, down payments can also come from...

March 10th, 2014 Don’t have 20% to put down? No problem!

Acadia Lending Group LLC

190 Riverside Street Unit 4B
Portland , Maine 04103

Phone: 207-899-4500

Fax: 207-899-4503

NMLS: 370636

 

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