Posted on: 12th Aug, 2009 11:46 pm
Can i put 20 percent down on a conventional loan?
Hi Terry, Yes you sure can put 20% down payment on a conventional loan.
terry, 20% is the minimum requirement to avoid mortgage insurance. you'll save by doing so. we are speaking of an owner-occupied property, right?
As per my knowledge you can even get in with 5% down on a conventional loan.
Generally speaking to qualify for conventional loans housing expenses should not exceed 26% to 28% of your gross monthly income.
getting mortgage insurance at 95% ltv is an awfully exacting challenge these days. mi companies have suffered mightily in this real estate morass, and they've cut back substantially. and to think they used to be really aggressive.
yeah...this was me...forgot to log back in....
getting mortgage insurance at 95% ltv is an awfully exacting challenge these days. mi companies have suffered mightily in this real estate morass, and they've cut back substantially. and to think they used to be really aggressive.
getting mortgage insurance at 95% ltv is an awfully exacting challenge these days. mi companies have suffered mightily in this real estate morass, and they've cut back substantially. and to think they used to be really aggressive.