Low Down Payment Mortgage

Recognizing that saving enough money for a down payment can be a major stumbling block to buying a home, lenders have developed a wide array of low down payment mortgages. These products are ideal if you have limited funds for closing costs as well. All these mortgages let you borrow up to the amount of the current loan limit toward the purchase of a one-family home that you intend to make your primary residence. The loans are generally designed for home buyers with very good credit histories; other low down payment loans offer more flexible qualifying requirements and may be particularly helpful if you have a limited income.