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If you have good credit, most banks should be comfortable giving you a loan that you can clearly afford for only 10% down.

If you put less than 20% down, you'll almost certainly have to pay for PMI (Private Mortgage Insurance). This will be rolled into your regularly monthly payments. Once you've paid enough of your mortgage off that you have 20% equity, you'll be able to have PMI removed. If you only pay your minimum payments, PMI will not go away for several years, but if you put extra money toward principal, you can get rid of it sooner, or possibly ask your bank to re-appraise your house if you feel it has appreciated enough or you have done some improvements that raise your equity above 20%. Note that taking it off early is typically subject to a "seasoning period" of a couple of years, during which you cannot have PMI removed from your loan.

Also remember that there are a lot of costs associated with buying a house (closing costs). You can ask that the seller contribute to these in your offer (in exchange for a slightly higher price). It's the same for them, and you keep a bit more of your savings. Typically, this is 3-5% of the price, but can only be applied to your closing costs (you don't get cash, you just don't write as big of a check to the bank for your down payment, tax escrow, etc.)

Edit: I'm actually in this situation myself. Had an offer accepted on a home for $150,000 with 3% back ($4500). I'm putting 10% down, am locked in at 3.990%, and will be paying about $77 every month in PMI. My plan is to start aggressively paying down principal starting in about a year, such that I'll have 20% in equity by Q3 2014, at which point I can get rid of PMI. Without doing that, I'd be paying PMI well into 2017.

If you have good credit, most banks should be comfortable giving you a loan that you can clearly afford for only 10% down.

If you put less than 20% down, you'll almost certainly have to pay for PMI (Private Mortgage Insurance). This will be rolled into your regularly monthly payments. Once you've paid enough of your mortgage off that you have 20% equity, you'll be able to have PMI removed. If you only pay your minimum payments, PMI will not go away for several years, but if you put extra money toward principal, you can get rid of it sooner, or possibly ask your bank to re-appraise your house if you feel it has appreciated enough or you have done some improvements that raise your equity above 20%. Note that taking it off early is typically subject to a "seasoning period" of a couple of years, during which you cannot have PMI removed from your loan.

Also remember that there are a lot of costs associated with buying a house (closing costs). You can ask that the seller contribute to these in your offer (in exchange for a slightly higher price). It's the same for them, and you keep a bit more of your savings. Typically, this is 3-5% of the price, but can only be applied to your closing costs (you don't get cash, you just don't write as big of a check to the bank for your down payment, tax escrow, etc.)

If you have good credit, most banks should be comfortable giving you a loan that you can clearly afford for only 10% down.

If you put less than 20% down, you'll almost certainly have to pay for PMI (Private Mortgage Insurance). This will be rolled into your regularly monthly payments. Once you've paid enough of your mortgage off that you have 20% equity, you'll be able to have PMI removed. If you only pay your minimum payments, PMI will not go away for several years, but if you put extra money toward principal, you can get rid of it sooner, or possibly ask your bank to re-appraise your house if you feel it has appreciated enough or you have done some improvements that raise your equity above 20%. Note that taking it off early is typically subject to a "seasoning period" of a couple of years, during which you cannot have PMI removed from your loan.

Also remember that there are a lot of costs associated with buying a house (closing costs). You can ask that the seller contribute to these in your offer (in exchange for a slightly higher price). It's the same for them, and you keep a bit more of your savings. Typically, this is 3-5% of the price, but can only be applied to your closing costs (you don't get cash, you just don't write as big of a check to the bank for your down payment, tax escrow, etc.)

Edit: I'm actually in this situation myself. Had an offer accepted on a home for $150,000 with 3% back ($4500). I'm putting 10% down, am locked in at 3.990%, and will be paying about $77 every month in PMI. My plan is to start aggressively paying down principal starting in about a year, such that I'll have 20% in equity by Q3 2014, at which point I can get rid of PMI. Without doing that, I'd be paying PMI well into 2017.

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If you have good credit, most banks should be comfortable giving you a loan that you can clearly afford for only 10% down.

If you put less than 20% down, you'll most likelyalmost certainly have to pay for PMI (Private Mortgage Insurance). This will be rolled into your regularly monthly payments. Once you've paid enough of your mortgage off that you have 20% equity, you'll be able to have PMI removed. If you only pay your minimum payments, PMI will not go away for several years, but if you put extra money toward principal, you can get rid of it sooner, or possibly ask your bank to re-appraise your house if you feel it has appreciated enough or you have done some improvements that raise your equity above 20%. Note that taking it off early is typically subject to a "seasoning period" of a couple of years, during which you cannot have PMI removed from your loan.

Also remember that there are a lot of costs associated with buying a house (closing costs). You can ask that the seller contribute to these in your offer (in exchange for a slightly higher price). It's the same for them, and you keep a bit more of your savings. Typically, this is 3-5% of the price, but can only be applied to your closing costs (you don't get cash, you just don't write as big of a check to the bank for your down payment, tax escrow, etc.)

If you have good credit, most banks should be comfortable giving you a loan that you can clearly afford for only 10% down.

If you put less than 20% down, you'll most likely have to pay for PMI (Private Mortgage Insurance). This will be rolled into your regularly monthly payments. Once you've paid enough of your mortgage off that you have 20% equity, you'll be able to have PMI removed. If you only pay your minimum payments, PMI will not go away for several years, but if you put extra money toward principal, you can get rid of it sooner, or possibly ask your bank to re-appraise your house if you feel it has appreciated enough or you have done some improvements that raise your equity above 20%. Note that taking it off early is typically subject to a "seasoning period" of a couple of years, during which you cannot have PMI removed from your loan.

Also remember that there are a lot of costs associated with buying a house (closing costs). You can ask that the seller contribute to these in your offer (in exchange for a slightly higher price). It's the same for them, and you keep a bit more of your savings. Typically, this is 3-5% of the price, but can only be applied to your closing costs (you don't get cash, you just don't write as big of a check to the bank for your down payment, tax escrow, etc.)

If you have good credit, most banks should be comfortable giving you a loan that you can clearly afford for only 10% down.

If you put less than 20% down, you'll almost certainly have to pay for PMI (Private Mortgage Insurance). This will be rolled into your regularly monthly payments. Once you've paid enough of your mortgage off that you have 20% equity, you'll be able to have PMI removed. If you only pay your minimum payments, PMI will not go away for several years, but if you put extra money toward principal, you can get rid of it sooner, or possibly ask your bank to re-appraise your house if you feel it has appreciated enough or you have done some improvements that raise your equity above 20%. Note that taking it off early is typically subject to a "seasoning period" of a couple of years, during which you cannot have PMI removed from your loan.

Also remember that there are a lot of costs associated with buying a house (closing costs). You can ask that the seller contribute to these in your offer (in exchange for a slightly higher price). It's the same for them, and you keep a bit more of your savings. Typically, this is 3-5% of the price, but can only be applied to your closing costs (you don't get cash, you just don't write as big of a check to the bank for your down payment, tax escrow, etc.)

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If you have good credit, most banks should be comfortable giving you a loan that you can clearly afford for only 10% down.

If you put less than 20% down, you'll most likely have to pay for PMI (Private Mortgage Insurance). This will be rolled into your regularly monthly payments. Once you've paid enough of your mortgage off that you have 20% equity, you'll be able to have PMI removed (usually after. If you only pay your minimum payments, PMI will not go away for several years, but if you put extra money toward principal, you can get rid of it sooner, or possibly ask your bank to re-appraise your house if you feel it has appreciated enough or you have done some improvements that raise your equity above 20%. Note that taking it off early is typically subject to a "seasoning" period"seasoning period" of a couple of years, during which you cannot have PMI removed from your loan.

Also remember that there are a lot of costs associated with buying a house (closing costs). You can ask that the seller contribute to these in your offer (in exchange for a slightly higher price). It's the same for them, and you keep a bit more of your savings. Typically, this is 3-5% of the price, but can only be applied to your closing costs (you don't get cash, you just don't write as big of a check to the bank for your down payment, tax escrow, etc.)

If you have good credit, most banks should be comfortable giving you a loan that you can clearly afford for only 10% down.

If you put less than 20% down, you'll most likely have to pay for PMI (Private Mortgage Insurance). This will be rolled into your regularly monthly payments. Once you've paid enough of your mortgage off that you have 20% equity, you'll be able to have PMI removed (usually after a "seasoning" period of a couple of years).

If you have good credit, most banks should be comfortable giving you a loan that you can clearly afford for only 10% down.

If you put less than 20% down, you'll most likely have to pay for PMI (Private Mortgage Insurance). This will be rolled into your regularly monthly payments. Once you've paid enough of your mortgage off that you have 20% equity, you'll be able to have PMI removed. If you only pay your minimum payments, PMI will not go away for several years, but if you put extra money toward principal, you can get rid of it sooner, or possibly ask your bank to re-appraise your house if you feel it has appreciated enough or you have done some improvements that raise your equity above 20%. Note that taking it off early is typically subject to a "seasoning period" of a couple of years, during which you cannot have PMI removed from your loan.

Also remember that there are a lot of costs associated with buying a house (closing costs). You can ask that the seller contribute to these in your offer (in exchange for a slightly higher price). It's the same for them, and you keep a bit more of your savings. Typically, this is 3-5% of the price, but can only be applied to your closing costs (you don't get cash, you just don't write as big of a check to the bank for your down payment, tax escrow, etc.)

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