(BPT) - Are you considering buying a home? Are you looking for a way to buy without depleting your savings? If so, you should know there are ways to qualify for a mortgage sooner than you think and for less. Insured low down payment mortgages are affordable and safe loan options that are offered by most lenders and help homebuyers achieve this goal. A low down payment mortgage with private mortgage insurance (MI) in particular is a great time-tested option that has helped more than 1.3 million families qualify for a home sooner than they otherwise could. So, how does MI work, and how much can it really save you?
The 20% down payment myth