Top 10 Questions about Down Payments

One very common misunderstanding for home buyers is the cash requirements for a down payment. How much do you need? What programs are out there for low down payment options? What is PMI and is it bad? Where do the funds need to come from? In this Mortgage Brothers podcast episode we break it down and answer some of the most common questions we get asked.

Can I use money from my business accounts as part of the down payment?

Can I Use Cash or a gift as Part of the Down Payment?

Do I have to put a larger amount down on investment properties?

What is the minimum down payment for a mortgage (Are there zero down mortgage loans)?

What’s better to pay PMI to save my cash?

What is the connection between the down payment and the LTV?

If the appraised value of a home exceeds the sale price, can the difference be applied to the down payment?

Can a home seller contribute to the buyer’s down payment?

Is it wise to withdraw funds from a 401K to make a down payment?

Can the lender contribute to the buyer’s down payment in exchange for a higher interest rate?