“NO, You Don’t Need 20% Down!”

    “NO, You Don’t Need 20% Down!”

 

 

 

 

We are blown away by the misinformation we have been living with for years. How foolish on our part, thinking that we need 20% down to purchase a home. We would not have known any better if we hadn’t read one of your blogs, thank you thank you!

I hate to tell you how many friends we have that think the same thing. We will be sending all to you as well.

 

 

I have written about this topic so many times. I am constantly amazed when I interact with folks who think they need 20% down to purchase a home. In fact, there are mortgage programs available that require NO money down, VA & USDA. FHA requires 3.5% down and conventional mortgages as little as 3% down.

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 3 commentsJoe Petrowsky • November 13 2020 02:31PM

Comments

Its all mis-information floating on the internet!

We didn't need 20% down for owner occupied loans as far as back as I could remember.  I don't know who is spreading this false info

Posted by Sham Reddy CRS, CRS (H E R Realty, Dayton, OH) 14 days ago

Good morning Joe. For those who got a conventional loan in the early 70's maybe true. Then PMI said 15%, then 10% and finally 5% down would be ok. And, even back then FHA and VA blew that out of the water. How old do you have to be to remember? Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 14 days ago

Who the heck are these people listening to that think they need 20% down to purchase a home?

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Vacasa) 14 days ago

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