What Are Typical Mortgage Down Payments?
Traditional mortgage down payments have always been 10 to 25 percent of the total purchase price of the property. more
Explore the Mortgage101 Library
Check Local Mortgage Rates
Today's Average
3.70%
Featured Article
Applying for a Mortgage after a Bankruptcy
Qualifying for a home mortgage with a bankruptcy on your credit history requires time and money. Yet by understanding the requirements to get a mortgage after a bankruptcy and by carefully rebuilding your credit standing, you can apply for a loan and buy a home.
Your Credit Score
The three main U.S. credit bureaus--Equifax, Experian and TransUnion--maintain your credit history. Using that history, plus its own proprietary equation, the Fair Isaac Corp. calculates your FICO credit score somewhere between 850 and 300 points. Anything above 700 points is good to excellent, with... more
Learn More About...
Mortgages
In addition to mortgage loans for home purchases, there are also other loans available for various purposes that use the home for collateral.
Rates
Mortgage interest rates are determined by credit history strength, the number of points you pay, the size of your down payment and the type of loan program you choose.
Home Buying
Obtaining funding is crucial to buying a home. This requires applying for a mortgage, choosing a house that meets the appraisal standards, and determining the amount of the down payment.
Loans
There are dozens of different types of mortgage loan programs. They have been created to suit the varying needs of homebuyers.
Moving
When making a big move, it's essential to find out as much as possible about the schools, the neighborhoods, the housing costs and the community resources.
MORE MORTGAGE ARTICLES
Should You Refinance? Make Sure the Timing is Right
Deciding whether or not you should refinance depends on your personal financial situation. If interest rates are lower today than they were when you first took out your mortgage, refinancing makes sense. more
FHA Eligibility with Bankruptcy and Foreclosure
FHA mortgage loans require borrowers to wait three years after a foreclosure and two years after a bankruptcy before applying for financing. Good credit since the incident is generally a requirement as well. more
- Low Down Payment Loan Qualification
- What Lenders Don't Reveal About Home Equity Loans
- FHA Loans for a First-Time Home Buyer
- Home Equity Loans for People with Bad Credit
- What To Do When Mortgages Default
- 3 Reasons Banks Reject Short Sales
- 3 Warning Signs of Loan Modification Scams
- Second Mortgages: Advantages and Disadvantages
- Short Selling a Rental Property
- How to Get Approved for an FHA Loan despite Bad Credit
- Appraisal Basics
- 3 Factors that Can Negatively Affect Your Mortgage Application
- Alternatives to Getting a 2nd Mortgage
- 3 Common Short Sale Mistakes
The Mortgage101 Blog
Homeowners Snub Foreclosure Review Offers
In the wake of the $25 billion mortgage-servicing settlement, 14 of the nation’s largest mortgage banks and lenders sent out notices to eligible former homeowners for a chance to have the legality of their foreclosures reviewed. And so far, it looks like very few are interested. As of April 30, only 4 percent - roughly 165,000... more