The common misconception is that you need to put 20% down when buying a home. This is not always true. Depending on the type of loan you get, you may be able to put down less with different loan options like an FHA loan, or even nothing at all with a VA loan. It is important to do your research and talk to a lender to determine what type of loan is best for your situation. As with any loan this will be determined by the underwriter and the lender guidelines so make sure to speak with your Mortgage Loan Officer to talk over different loan options that might be available to you.
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