Buying A House With Low Down Payment (Free »)

When you put down less than 20%, lenders typically require to protect themselves if you default.

: Private Mortgage Insurance (PMI) is usually required for conventional loans. It can often be removed once you reach 20% equity in the home. buying a house with low down payment

: Backed by Fannie Mae and Freddie Mac , these programs allow for just 3% down for qualified first-time buyers. When you put down less than 20%, lenders

: Insured by the Federal Housing Administration (FHA) , these require as little as 3.5% down for those with a credit score of 580 or higher. buying a house with low down payment